Posted: March 23rd, 2017

List the criteria a firm applies in deciding whether to produce a component part or purchase it in the market. Ashland Oil buys its crude oil in the market. Larger oil refiners, such as Texaco, drill for their own crude oil. Why do some oil companies drill for their own crude oil and others buy crude oil in the market?

List the criteria a firm applies in deciding whether to produce a component part or purchase it in the market. Ashland Oil buys its crude oil in the market. Larger oil refiners, such as Texaco, drill for their own crude oil. Why do some oil companies drill for their own crude oil and others buy crude oil in the market?

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