Resolved: Problem 4 (a) in Homework
The problem states that no firm has any preference where they want to be positioned. This means that the order in which the firms are arranged does not matter. If the order doesn't matter, then how are we going to use permutations?
1 answers ( 1 marked as helpful)
Hey Youssef,
Thank you for reaching out!
Since no company has a preference as to where they want to be positioned, we need to consider all possible arrangements. This would indeed be equivalent to finding the permutations of all 11 companies.
Kind regards,
365 Hristina