In the Short Run, the Supply of Land Cannot Be

question 30

Multiple Choice

In the short run, the supply of land cannot be increased even if the price of land increases substantially. In other words, the price elasticity of supply for land is equal to _____ in the short run.

• A) 0
• B) ∞
• C) 1
• D) -1

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Definitions:

Bound By Contract

The state of being legally obligated to another party as per the terms and conditions specified in a contract.

Company B

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