A decrease in the marginal revenue product of land will:
a. decrease the supply of land
b. increase the rental earnings from land.
c. increase the price of land.
d. decrease the demand for land.
d
Economics
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The law of comparative advantage implies that a nation, individual, or region should produce those economic goods for which it
a. has an absolute advantage. b. is a low opportunity cost producer. c. is a high opportunity cost producer. d. pays the highest wage rate.
Economics
What are the political and economic limitations upon (a) fiscal policy and (b) monetary policy?
What will be an ideal response?
Economics