The discovery of natural gas in the American Midwest should lead to a(n) ____ in the price of land because of a(n) _____ land.
A) decrease; increase in supply of
B) decrease; decrease in demand for
C) increase; decrease in supply of
D) increase; increase in demand for
Correct Answer:
Verified
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
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
Q12: The marginal product of capital curve has
Q13: The marginal revenue product of capital is
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