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Author Question: If land becomes more valuable in residential use than in commercial use (Read 56 times)

joesmith1212

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  • 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
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Marked as best answer by joesmith1212 on Apr 19, 2019

wfdfwc23

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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.
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joesmith1212

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

lkanara2

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  • Posts: 329
Reply 3 on: Yesterday
Great answer, keep it coming :)

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