The demand for farmland will increase if
A) the demand for food decreases.
B) technological advances make land more productive.
C) the price of farm labor increases and the output effect exceeds the substitution effect.
D) the supply of farmland increases.
Correct Answer:
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Q4: Economic rent refers to the price paid
Q5: The total supply of land is
A) upsloping.
B)
Q6: For all practical purposes, the supply of
Q7: Which of the following is correct?
A) Although
Q8: In his book Progress and Poverty, Henry
Q10: The marginal revenue product (MRP) of land
Q11: Economic rent, or pure rent, is
A) a
Q12: To say that land rent performs no
Q13: Which of the following statements is correct?
A)
Q14: The rent paid for the pasture land
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