Asked by
Maritza Morales
on Nov 06, 2024
Verified
The supply of land is perfectly elastic.
Perfectly Elastic
A situation in which the demand or supply for a good or service is infinitely responsive to changes in price.
- Understand how the fixed supply of certain resources affects their returns and pricing.
Verified Answer
PM
Learning Objectives
- Understand how the fixed supply of certain resources affects their returns and pricing.