Which statement is false?
A) The supply curve for land is perfectly inelastic.
B) Rent is set by supply and demand.
C) The demand for rent is the MRP schedule of the highest bidder for a specific plot of land.
D) An increase in the demand for land increases both the price and quantity of lanD.
Correct Answer:
Verified
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A)All land has the
A)demand for;elastic
B)demand
A)Usury laws
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