Solved

As the Price of Land Falls,the Relative Price of Land

Question 2

Multiple Choice

As the price of land falls,the relative price of land _____


A) increases, because the prices of other land that could produce the same output have also decreased.
B) decreases, because the prices of other land that could produce the same output have also decreased.
C) increases, because the prices of other land that could produce the same output have increased.
D) decreases, because the prices of other land that could produce the same output are held constant.
E) remains constant, because the prices of other land that could produce the same output also increase.

Correct Answer:

verifed

Verified

Related Questions

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