The rent paid for the pasture land used to graze cattle would increase if

Question

Quizplus · Accepted Answer

The rent paid for the pasture land used to graze cattle would increase if any of the options occurred. 
A: If the productivity of the land increased, there would be more grass available for grazing and the land could support more cattle, which would increase its value.
B: If people decided to consume more beef, the demand for cattle would increase, and the value of the land used for grazing would also increase.
C: If oil deposits were discovered on the land, the land would have additional value for oil drilling, which would increase the overall value of the land.

The Rent Paid for the Pasture Land Used to Graze