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The Quantity Supplied of Land Is Constant Regardless of Price

question 71

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The quantity supplied of land is constant regardless of price. Suppose a tax is imposed on the rental price of land. Who will pay the greater share of such a tax?


Definitions:

Les Très Riches Heures

An illuminated manuscript book of hours, considered one of the masterpieces of the International Gothic period, made in France for the Duke of Berry.

Portinari Altarpiece

A celebrated triptych painted by Hugo van der Goes, representing a religious scene, notable for its detailed portrayal of the Portinari family and extensive symbolic elements.

Hugo Van Der Goes

A Northern Renaissance painter from the Netherlands, best known for his work "The Adoration of the Kings" and contributions to the development of realistic portraiture and landscapes.

Dieric Bouts

A Dutch painter who was active in the 15th century, known for his religious scenes and for his role in the development of the Early Netherlandish painting style.

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