This topic contains a solution. Click here to go to the answer

Author Question: Suppose the supply of land is infinitely inelastic and the demand for land is downward sloping but ... (Read 104 times)

londonang

  • Hero Member
  • *****
  • Posts: 540
Suppose the supply of land is infinitely inelastic and the demand for land is downward sloping but inelastic at the current equilibrium. If the supply curve shifts rightward (e.g.
 
  , previously unusable land is cleared for production), what happens to the aggregate economic rents in this market? A) Decrease
  B) Increase
  C) Remain the same
  D) We do not have enough information to answer this question.

Question 2

The oligopoly model that predicts that oligopoly prices will tend to be very rigid is the ________ model.
 
  A) Cournot
  B) Stackelberg
  C) dominant firm
  D) kinked demand



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

perkiness

  • Sr. Member
  • ****
  • Posts: 348
Answer to Question 1

A

Answer to Question 2

D




londonang

  • Member
  • Posts: 540
Reply 2 on: Jul 1, 2018
:D TYSM


dreamfighter72

  • Member
  • Posts: 355
Reply 3 on: Yesterday
Excellent

 

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

Did you know?

The most dangerous mercury compound, dimethyl mercury, is so toxic that even a few microliters spilled on the skin can cause death. Mercury has been shown to accumulate in higher amounts in the following types of fish than other types: swordfish, shark, mackerel, tilefish, crab, and tuna.

Did you know?

All adverse reactions are commonly charted in red ink in the patient's record and usually are noted on the front of the chart. Failure to follow correct documentation procedures may result in malpractice lawsuits.

Did you know?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

Did you know?

The oldest recorded age was 122. Madame Jeanne Calment was born in France in 1875 and died in 1997. She was a vegetarian and loved olive oil, port wine, and chocolate.

For a complete list of videos, visit our video library