Supply of land is ________.

perfectly inelastic

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perfectly elastic

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highly elastic

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relatively elastic

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Solution

The correct option is A perfectly inelastic
Supply of land is perfectly inelastic as change in demand of land does not lead to any change in supply of land as land is a free gift of nature and it's quantity is fixed.Supply curve of land is a straight vertical line .

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Similar questions

Q. Draw and briefly explain a perfectly elastic supply curve.

Q. Fill in the blanks with appropriate alternatives given in the bracket.
The supply of land is _______ .
[elastic, perfectly elastic, perfectly inelastic, more elastic]

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Show, with the help of a diagram, the effect on equilibrium price when demand increases and supply is perfectly elastic.

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Supply of land is ________.

The correct option is A perfectly inelasticSupply of land is perfectly inelastic as change in demand of land does not lead to any change in supply of land as land is a free gift of nature and it's quantity is fixed.Supply curve of land is a straight vertical line .

The correct option is A perfectly inelastic
Supply of land is perfectly inelastic as change in demand of land does not lead to any change in supply of land as land is a free gift of nature and it's quantity is fixed.Supply curve of land is a straight vertical line .