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Siemens is considering whether to continue manufacturing a component in-house or to buy it from a supplier. The in-house production cost is $750,000 per year,

Siemens is considering whether to continue manufacturing a component in-house or to buy it from a supplier. The in-house production cost is $750,000 per year, and the supplier's price is $700,000 per year. Should Siemens continue to manufacture or buy the component?

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