As the Price of Land Decreases Along Its Demand Curve

question 50

Multiple Choice

As the price of land decreases along its demand curve, the relative price of land

• A) increases because the prices of other resources have also decreased.
• B) decreases because the prices of other resources have also decreased.
• C) increases because the prices of other resources have increased.
• D) decreases because the prices of other resources are held constant.
• E) remains constant because the prices of other resources also increase.

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Definitions:

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Relating to or dependent upon a specific set of circumstances or context.

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