Teaching UP PGT Mock Test Series 2024 General Knowledge Geography (World Geography) World Economic and Human Geography
With reference to the Losch principle of profit maximization, which of the following statements is correct?
I. Industrial location is characterized by conditions of monopolistic competition.
II. Demand is considered to be the most important variable in the location of an industry.
1
Both I and II
2
Only I
3
Only II
4
Neither I nor II