Hotelling's Location Model Is Useful for Explaining

question 3

Multiple Choice

Hotelling's location model is useful for explaining:

• A) simultaneous games.
• B) the clustering of similar types of merchants.
• C) game theory.
• D) the prisoner's dilemma.

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Definitions:

Cylindrical

Relating to the surface or shape of a cylinder, which is a solid geometric figure with straight parallel sides and a circular or oval cross section.

Spherical

Having the shape of a sphere; relating to or resembling a ball or globe.

Antifriction Bearings

Bearings designed to reduce friction between moving parts while supporting radial and axial loads, often using balls or rollers.

Bearing

A machine element that constrains relative motion to only the desired motion, reducing friction between moving parts.