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 29 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

okolip

  • Member
  • Posts: 362
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Asthma attacks and symptoms usually get started by specific triggers (such as viruses, allergies, gases, and air particles). You should talk to your doctor about these triggers and find ways to avoid or get rid of them.

Did you know?

Adolescents often feel clumsy during puberty because during this time of development, their hands and feet grow faster than their arms and legs do. The body is therefore out of proportion. One out of five adolescents actually experiences growing pains during this period.

Did you know?

The term pharmacology is derived from the Greek words pharmakon("claim, medicine, poison, or remedy") and logos ("study").

Did you know?

Warfarin was developed as a consequence of the study of a strange bleeding disorder that suddenly occurred in cattle on the northern prairies of the United States in the early 1900s.

Did you know?

Cucumber slices relieve headaches by tightening blood vessels, reducing blood flow to the area, and relieving pressure.

Rate of Residential Change, Past Year, in the United States Rate of Residential Change, Past Year, in the United States
A commercial eyewash station. In a medical office, the eyewash station is likely to be attached to a A commercial eyewash station. In a medical office, the eyewash station is likely to be attached to a
The method of Land’s (1977) color-vision experiments. Subjects viewed Mondrians illuminated by ... The method of Land’s (1977) color-vision experiments. Subjects viewed Mondrians illuminated by ...
Model for ecosystems on land Model for ecosystems on 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.
Plot of Land (Modified Offset Method) Plot of Land (Modified Offset Method)
Video: Role of the urinary system - acidosis and alkalosis

For a complete list of videos, visit our video library