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.

---

Definitions:

Laser Excision

Laser excision involves the use of laser technology to remove or cut out tissue, often used in surgical procedures and dermatology.

Ammonia Dermatitis

Skin irritation caused by prolonged exposure to ammonia, commonly seen in diaper rash.

Zinc Oxide

A white powder used as a pigment and in medicinal ointments for its protective, antiseptic, and astringent properties.

Artificial Eye

A prosthetic device, also known as an ocular prosthesis, designed to replace a missing or damaged eye.