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Material index, labor and agglomeration and deglomeration.

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In Webers least cost theory what two major factors controlled cost of transportation?

weight/ volume of the good and distance to market.


What is the von thunen model?

This is Theory of Least-Cost Location


What are flaws of Alfred weber's least cost theory?

- Weber's theory does not account for the fact that markets and labour forces are often mobile - The Least Cost Theory does not take into account that the labour force contains some variance, in skill sets, gender, age, language etc. -Weber's theory also assumes that all transportation costs are directly proportional to the distance from the market, although this is not necessarily true. (Especially in today's global economy)


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The cost of a Lamborghini depends on many factors, and you can usually expect to pay at least $200,000 for a car.


What is modern theory of cost of production?

the traditional theory explains cost curve u shape, but in modern theory says that cost curve L shape


The following type of information is LEAST useful for evaluating the range of products that may meet your requirement?

Cost driving factors


What is the Alfred Weber's Theory of Industrial Location?

Alfred Weber's Theory of Industrial Location, also known as the Least Cost Theory, suggests that the location of industries is determined by minimizing transportation costs and maximizing profits. According to this theory, industries will locate where they can minimize the costs of transporting raw materials to the factory and finished products to the market. Weber classified industries into three categories based on their location factors: weight-gaining, weight-losing, and bulk-reducing.


How much will gas cost from Detroit to Toronto?

That depends on a number of factors, not least how many miles per gallon your car gets.


What is modern theory of cost?

Modern theory of cost is that the Economist belief that the average cost curve and marginal cost curve (AC & MC) are "L" shaped.


What is the cost-plus-markup theory?

Cost-plus-markup theory is the theory that business firms calculate their unit costs and add on a percentage markup.


How much does a school building cost to buy?

It depends on the size, location, and many other factors, such as the architectural design. You can expect that a school building will cost at least several million dollars.


Differences between modern and traditional theory of cost?

The differences between modern and traditional theory of costs relate to international trade. Traditional theorists thought that there should be a separation from internal trade and internal relations while modern theorists felt the terms were the same.