Suppose the Government Designates Certain Areas Within a Community to Be

question 67

Multiple Choice

Suppose the government designates certain areas within a community to be "wetlands," making it illegal to build on the land. What happens to land not classified as "wetlands" within the community? (i)
The price of non-wetland land will rise.(ii)
The marginal product of non-wetland land will fall.
(iii)
The marginal product of non-wetland land will rise.

• A)(i) and (ii) only
• B)(ii) only
• C)(i) and (iii) only
• D)(iii) only

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Definitions:

Headnote

A brief summary or statement at the beginning of a legal case report, outlining the main facts and the court's decision.

Court Opinion

A formal statement issued by a court expressing the reasons and ruling on a particular case.

Dictum

A statement or comment made by a judge in a legal decision or ruling that is not essential to the case's outcome.

Appellate Court

A court that reviews and makes decisions on appeals made against decisions of lower courts, focusing on whether the law was applied correctly in the original case.