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Question #47861

Supply of land in a given use ?

Options:

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: Supply of land in a given use will be upward sloping because as land becomes more valuable in once use, the amount of land made available for that use will increase.

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