If the supply price on 100 acres is zero, then $30 for the next 100 acres, and finally $60 for the third 100 acres, the supply curve of land curve is

Question

Quizplus · Accepted Answer

The supply curve described is upward-sloping and step-shaped because the price increases in steps as more acres are supplied: it starts at zero for the first 100 acres, then increases to $30 for the next 100 acres, and finally to $60 for the third 100 acres. This creates a step-shaped curve rather than a smooth, continuous slope.

If the Supply Price on 100 Acres Is Zero, Then