Which of these statements MOST accurately describes Hotelling's Law?
Competing businesses are likely to be drawn toward a center point in order to minimize the advantages that location might grant to their competitors.
As businesses move away from a zone of profitability, distance decay reduces profitability as the business is in a zone where consumers will not travel.
A prime location for a business is where demand for a certain retail good is high enough to generate revenues that exceed the costs of doing business there.
Location theory considers factors such as workforce availability, education, and community culture and appeal.
Inequalities between the core and periphery keep core countries economically developed and periphery countries undeveloped.
