Since the amount of land is fixed,how elastic is the total supply of land
A)relatively elastic
B)perfectly elastic
C)perfectly inelastic
D)relatively inelastic

Question

Quizplus · Accepted Answer

The total supply of land is perfectly inelastic because the amount of land available cannot be increased or decreased in the short run, regardless of price changes. Therefore, the supply remains constant.

Since the Amount of Land Is Fixed,how Elastic Is the Total