When an economist says a change in the market for land causes a farmer to use his land more intensively, he means that the farmer
A) produces more output than before, so the marginal product of his land falls.
B) produces less output than before, so the marginal product of his land rises.
C) uses greater amounts of nonland inputs than before, so the marginal revenue product of his land rises.
D) uses smaller amounts of nonland inputs than before, so the marginal revenue product of his land falls.
Correct Answer:
Verified
Q144: Marginal land is land on the borderline
Q146: Economic rents are earned whenever
A)demand for a
Q156: Figure 19-3 Q157: The market level of rent Q158: In 1862, the Homestead Act made land Q160: California passed a law called "Proposition 2![]()
A)is entirely determined
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