Supply of land in a given use?
Ais perfectly inelastic since there is a fixed amount of land
Bwill be perfectly inelastic in the long run. but upward sloping in the short run
Cis perfectly elastic since there is fixed amount of land
Dwill be upward sloping because as land becomes more valuable in once use, the amount of land made available for that use will increase
Correct answer
D. will be upward sloping because as land becomes more valuable in once use, the amount of land made available for that use will increase
Explanation
The correct answer is will be upward sloping because as land becomes more valuable in once use, the amount of land made available for that use will increase.