According to Ricardo's Explanation of Land Rent, What Happens When

question 35

Multiple Choice

According to Ricardo's explanation of land rent, what happens when the demand for land increases?

• A) The supply curve shifts to the right just enough to keep the price per acre constant.
• B) Revenues to owners of land increase but economic rent declines.
• C) The amount of economic rent stays constant, constrained by a perfectly inelastic supply curve.
• D) Both revenues to owners of land and economic rent increase.

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