

MCQOPTIONS
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1. |
Supply of land in a given use ? |
A. | will be perfectly inelastic in the long run. but upward sloping in the short run |
B. | is perfectly inelastic since there is a fixed amount of land |
C. | is perfectly elastic since there is fixed amount of land |
D. | will be upward sloping because as land becomes more valuable in once use, the amount of land made available for that use will increase |
Answer» E. | |