A manufacturing firm is considering three potential locations for a new parts manufacturing facility. A consulting firm has assessed three sites based on the four factors supplied by management as critical to the location's success. Given the management-supplied factor weights and the consultant team scores, which location should be selected? Scores are based on 50 = best.
Definitions:
Endowed
Provided with a large amount of a particular resource or quality.
Contract Curve
In economics, it represents the set of optimal points of exchange between two parties, where no further mutual benefit can be achieved through trade.
Edgeworth Box
A graphical representation of the trading possibilities and equilibrium between two individuals with fixed amounts of two goods.
Utility Function
A mathematical model in economics that represents consumer preferences over a set of goods and services, by assigning a utility value for each possible bundle of goods.
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