Multiple Choice QuestionSupply is perfectly inelastic for which factor of production?Multiple choice question.Physical capitalLandHuman capitalLabor
Question
Multiple Choice QuestionSupply is perfectly inelastic for which factor of production?Multiple choice question.Physical capitalLandHuman capitalLabor
Solution
The supply is perfectly inelastic for "Land". This is because the amount of land is fixed, it cannot be increased or decreased. No matter how much the price increases or decreases, the supply of land remains the same. Hence, it is perfectly inelastic.
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