If, in response to a growing demand for food, farmers create productive acreage by draining swamps,
A) the supply curve of land will be vertical
B) these new acres will generate the largest rents of all acreages
C) the MRP of land will increase
D) all land will earn zero rents because of competition
E) differential land rents will result
Correct Answer:
Verified
Q104: Eliminating all farm price floors would
A) raise
Q105: A cereal producer finds that when Eli
Q106: The difference between what a productive resource
Q107: If the price of land is zero,
A)
Q108: If a country's population increases while the
Q110: If there are cost differences in transporting
Q111: If the supply price of land is
Q112: The difference between the market price of
Q113: Suppose acre A is located at the
Q114: When the supply of land is upward
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents