Solved

Consider the Market for Land

Question 306

Multiple Choice

Consider the market for land.Suppose the value of the marginal product of land decreases.Holding all else constant,what will happen to the equilibrium rental price for land?


A) The equilibrium rental rate increases.
B) The equilibrium rental rate decreases.
C) The equilibrium rental rate does not change.
D) It is not possible to determine what will happen to the equilibrium rental rate.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q87: The owners of capital resources are compensated

Q93: The accumulation of machinery and buildings used

Q102: The marginal product of any factor of

Q192: Suppose that workers immigrate to Minnesota from

Q215: Suppose that a violent earthquake causes the

Q217: If one were to consider a university

Q302: Figure 18-7 Figure 18-7 </p></div><svg width=

Q303: Figure 18-7 Figure 18-7 </p></div><svg width=

Q307: Economists define capital as the
A) accumulation of

Q310: Figure 18-7 Figure 18-7 </p></div><svg width=

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents