If the amount of land supplied remains the same even when the price of land increases, the:
A) supply of land must be perfectly elastic.
B) supply of land must be perfectly inelastic.
C) demand for land must be perfectly elastic.
D) demand for land must be perfectly inelastic.

Question

Quizplus · Accepted Answer

The supply of land is perfectly inelastic because the quantity supplied does not change regardless of changes in price.

If the Amount of Land Supplied Remains the Same Even