Figure 19-3
-The distinguishing feature of the land market is that the
A)supply is highly inelastic.
B)supply is highly elastic.
C)demand is highly inelastic.
D)demand is highly elastic.

Question

Figure 19-3 
-The distinguishing feature of the land market is that the
A)supply is highly inelastic. 
B)supply is highly elastic. 
C)demand is highly inelastic. 
D)demand is highly elastic.

Quizplus · Accepted Answer

The supply of land is highly inelastic because the total amount of land available is fixed and cannot be increased, regardless of the price.

Figure 19-3 -The Distinguishing Feature of the Land Market Is That the Is