Labor Wage Rates Appear to Be a Key Locational Determinant

question 34

True/False

Labor wage rates appear to be a key locational determinant as supply chains become more global in nature.

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Definitions:

Linear Programming

A mathematical modeling technique used for optimization of a linear objective function, subject to linear equality and inequality constraints.

Sensitivity Analysis

A technique used to determine how different values of an independent variable will impact a particular dependent variable under a given set of assumptions.

Linear Programming

A mathematical method used for achieving the best outcome (such as maximum profit or lowest cost) in a mathematical model whose requirements are represented by linear relationships.

Corner Points

In linear programming, points at the corner or edge of the feasible region which may contain the optimal solution.