In the Market for Land as a Resource,the Demand Curve

question 7

Multiple Choice

In the market for land as a resource,the demand curve is elastic while the supply curve is perfectly inelastic.Identify the underlying assumption.

• A)There are limited ways in which land can be used as a resource.
• B)Land as an input has large number of substitutes.
• C)There is a fixed supply of land.
• D)Land includes all immovable assets.
• E)Land looses productivity over time.

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