Which of the Following Is a True Statement About Location

question 100

Multiple Choice

Which of the following is a true statement about location decisions?

• A) Franchisers never assist entrepreneurs with location decisions.
• B) Location decisions have an enduring effect on business operations.
• C) Location decisions should be made independently of consumer needs.
• D) The location decision is equally critical to all types of businesses.

---

Definitions:

Total Cost Curve

A graphical representation showing the total cost incurred by a firm at different levels of output.

Variable Input

An input in the production process that can be adjusted in the short term to change the level of output.

Marginal Product

The additional output that is produced by adding one more unit of a specific input, while holding all other inputs constant.

Marginal Cost Curve

A graphical representation showing how the cost of producing one more unit of a good varies as the production volume changes.