Statement 1: Hoover’s Theory of Industrial Location is often criticized for its lack of emphasis on labor and agglomeration costs.
Statement 2: Hoover’s model applies equally well to both manufacturing industries and service-based industries.
1
Both statements are true
2
Both statements are false
3
Statement 1 is true, and Statement 2 is false
4
Statement 1 is false, and Statement 2 is true