which of the following is true about supply of land?

Economics

WAEC 2018

A. its higher in the urban than rural areas
B. varies with time
C. rises with demand
D. is fixed

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Correct Answer: Option D

Explanation

Fixed supply: The total land area of earth (in the sense of the surface area available to men) is fixed. First, supply of land is fixed or inelastic from society's point of view.

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which of the following is true about supply of land?

Correct Answer: Option D

Explanation

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