Several Developments Limit the Applicability of Weber's Model

question 27

Multiple Choice

Several developments limit the applicability of Weber's model.They include all of the following EXCEPT

• A) not all firms need to minimize transportation costs.
• B) the production process is much more complex now.
• C) transportation cost is best expressed as a linear function of distance.
• D) transportation costs having been declining in the long-run.
• E) brainpower has steadily been replacing muscle and machine power.

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Definitions:

Sternberg

A psychologist known for his triarchic theory of intelligence, which categorizes human intelligence into analytical, creative, and practical dimensions.

Practical Intelligence

The ability to solve everyday problems through adaptive or creative reasoning and learning from experience.

Creative Intelligence

A facet of intelligence involving the ability to deal with new situations using past experiences and current skills in innovative and original ways.

Spreads

Refers to the difference between two measurements, such as bid and ask prices in trading, or to the expansion of an entity or idea across different areas.