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Economics
MEDIUM
ENGLISH
Economics
Supply of land in a given use ?
A
will be perfectly inelastic in the long run. but upward sloping in the short run
Option A
B
is perfectly inelastic since there is a fixed amount of land
Option B
C
is perfectly elastic since there is fixed amount of land
Option C
will be upward sloping because as land becomes more valuable in once use, the amount of land made available for that use will increase
Correct answer
Correct answer: D
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