When the supply curve of land is upward sloping and intersects the demand curve at $30 per acre, then the last acre brought into production receives
A) $30 in land rent
B) $0 in land rent
C) average land rent of somewhere between $0 and $30, depending on the price of land
D) land rent equal to the price of an acre of land
E) land rent greater than $30 because the last acre is located to the right (in the land market graph) of the intersection of the demand and supply curves
Correct Answer:
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