This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: If land becomes more valuable in residential use than in commercial use (Read 28 times)

joesmith1212

  • Hero Member
  • *****
  • Posts: 549
on: Apr 19, 2019

Question 1

If the 
MRP of land is less than its price, a firm should


◦ use more land.
◦ use less land.
◦ try to decrease the productivity of land.
◦ increase the price it is willing to pay for land.

Question 2

If land becomes more valuable in residential use than in commercial use


◦ the supply of land available for commercial use should decrease and the supply of land for residential use should increase.
◦ there can be no change in the allocation of land because land is fixed in supply.
◦ there will be no change in the allocation of land, as there is no responsiveness to price changes by suppliers of land.
◦ the supply of land for commercial use will become perfectly elastic, and the supply of land for residential use will become perfectly inelastic.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by joesmith1212 on Apr 19, 2019

wfdfwc23

  • Sr. Member
  • ****
  • Posts: 338
Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 56% of students answer this correctly


joesmith1212

  • Member
  • Posts: 549
Reply 2 on: Apr 19, 2019
YES! Correct, THANKS for helping me on my review

Kedrick2014

  • Member
  • Posts: 359
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Recent studies have shown that the number of medication errors increases in relation to the number of orders that are verified per pharmacist, per work shift.

Did you know?

Malaria was not eliminated in the United States until 1951. The term eliminated means that no new cases arise in a country for 3 years.

Did you know?

Many people have small pouches in their colons that bulge outward through weak spots. Each pouch is called a diverticulum. About 10% of Americans older than age 40 years have diverticulosis, which, when the pouches become infected or inflamed, is called diverticulitis. The main cause of diverticular disease is a low-fiber diet.

Did you know?

Many supplement containers do not even contain what their labels say. There are many documented reports of products containing much less, or more, that what is listed on their labels. They may also contain undisclosed prescription drugs and even contaminants.

Did you know?

Fungal nail infections account for up to 30% of all skin infections. They affect 5% of the general population—mostly people over the age of 70.

Charophycean green algal relatives of the land plants. Charophycean green algal relatives of the land plants.
Midway Island, an inhospitable atoll acquired in 1867, was valuable as a military base located midwa Midway Island, an inhospitable atoll acquired in 1867, was valuable as a military base located midwa
The work of geneticists is valuable because genes play a role in virtually every aspect of ... The work of geneticists is valuable because genes play a role in virtually every aspect of ...
Waterspouts are tornadoes that occur over warm-water bodies, instead of over land. Waterspouts are tornadoes that occur over warm-water bodies, instead of over land.
A land snail (Helix aspersa) with the opening that leads to its lung visible at the left. A land snail (Helix aspersa) with the opening that leads to its lung visible at the left.
Generalized life cycle for land plants Generalized life cycle for land plants
Video: Types of energy transfer reactions: oxidation-reduction reactions and ATP generation reactions

For a complete list of videos, visit our video library