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A.
has an elastic supply
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B.
is an active factor of production
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C.
is heterogenous in nature
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D.
is subject to returns to scale
Correct Answer: Option B
Explanation
Land possesses the following characteristics:
- Free Gift of Nature
- Fixed Quantity
- Land is Permanent
- Land is a Primary Factor of Production
- Land is a Passive Factor of Production
- Land is Immovable
- Land has some Original Indestructible Powers
- Land Differs in Fertility
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