If the Amount of Land Supplied Remains the Same Even

question 149

Multiple Choice

If the amount of land supplied remains the same even when the price of land increases, the:

• A) supply of land must be perfectly elastic.
• B) supply of land must be perfectly inelastic.
• C) demand for land must be perfectly elastic.
• D) demand for land must be perfectly inelastic.

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A set of instructions used in spreadsheet software that performs calculations or other actions on data.

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An application program such as Microsoft Excel or Lotus 1-2-3 that enables a user to do calculations and numerical analyses easily.

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