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Multiple Choice QuestionDemand is the sole active determinant of land rent, because the supply of land and other natural resources is perfectly Blank______.Multiple choice question.exhaustedinelasticrandomelastic

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Multiple Choice QuestionDemand is the sole active determinant of land rent, because the supply of land and other natural resources is perfectly Blank______.Multiple choice question.exhaustedinelasticrandomelastic

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Solution

The correct answer is "inelastic". The supply of land and other natural resources is perfectly inelastic because it is fixed and cannot be increased or decreased in response to changes in price or demand.

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