David Ricardo used the example of land to demonstrate the concept of rent, as the supply of land is

Question

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David Ricardo believed that the supply of land was perfectly inelastic, meaning that the quantity of land available is fixed and cannot be increased or decreased in response to changes in demand. This makes the supply curve perfectly vertical, and any increase in demand for land would result in an increase in rent rather than an increase in the quantity supplied.

David Ricardo Used the Example of Land to Demonstrate the Concept