When the supply curve for land is vertical
A) an increase in rent occurs if the demand for land falls.
B) an increase in rent occurs if the demand for land rises.
C) a decrease in rent occurs if the demand for land rises.
D) taxes on land cause tremendous reductions in the amount of land used.
Correct Answer:
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Q1: If the supply of land is perfectly
Q3: Land has all of these characteristics, EXCEPT
Q4: In economics, the term "land" refers to
A)
Q5: The economic payment for land is called
A)
Q6: Rent is the payment to owners of
Q7: The price of land is primarily determined
Q8: The discovery of natural gas in the
Q9: Which statement about rent is FALSE?
A) It
Q10: Industrial agglomeration
A) describes geographical clusters of industries
Q11: Industrial agglomeration occurs because of which economic
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