Use the Principle of Median Location and the diagram below to answer the following questions. Assume ubiquitous inputs. CD 21 location population Where should a firm locate along this diagram? Explain why any other location would not be optimal. • How large would location F have to grow by in order to become the optimal location?
Use the Principle of Median Location and the diagram below to answer the following questions. Assume ubiquitous inputs. CD 21 location population Where should a firm locate along this diagram? Explain why any other location would not be optimal. • How large would location F have to grow by in order to become the optimal location?
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Transcribed Image Text:# Principle of Median Location
This section uses the Principle of Median Location and the accompanying diagram to solve specific questions related to optimal firm positioning. Assume ubiquitous inputs are available.
## Diagram Explanation
The diagram represents a linear path with six labeled locations: A, B, C, D, E, and F. Each location has an associated population size.
- **Location A**: Population of 7
- **Location B**: Population of 5
- **Location C**: Population of 2
- **Location D**: Population of 1
- **Location E**: Population of 9
- **Location F**: Population of 2
Locations are arranged on a number line from 1 (D) to 9 (E).
## Questions
1. **Where should a firm locate along this diagram? Explain why any other location would not be optimal.**
2. **How large would location F have to grow by in order to become the optimal location?**
The purpose of this exercise is to determine the optimal location for firm placement based on population distribution, using the median location principle.
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