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-Refer to the Figures Above to Answer This Question

Question 71

Multiple Choice

  -Refer to the figures above to answer this question. Figure ________ represents the market for ________ because its supply is ________. A)  B; land; elastic as predicted by the Hotelling Principle B)  A; land; perfectly inelastic because the quantity of land is fixed C)  B; a nonrenewable resource; demand changes as the economy changes D)  A; a nonrenewable resource; inelastic because reserves can always be discovered E)  B; land; inelastic given only a limited amount of land is available
-Refer to the figures above to answer this question. Figure ________ represents the market for ________ because its supply is ________.


A) B; land; elastic as predicted by the Hotelling Principle
B) A; land; perfectly inelastic because the quantity of land is fixed
C) B; a nonrenewable resource; demand changes as the economy changes
D) A; a nonrenewable resource; inelastic because reserves can always be discovered
E) B; land; inelastic given only a limited amount of land is available

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