Which of the following scenarios BEST illustrate(s) Hotelling’s model of industrial location?

A lumber shipping company locates near its central market.
Two competing bakeries locate in a central area of the same city street.
Several restaurants locate themselves great distances from each other on a highway.
Hot dog vendors set up across the street from each other along the path to the ballpark.
I only
II only
I and III
II and IV
I, III, and IV