Payroll taxes levy taxes on ________

Demand for a product tends to be more elastic the longer the time period considered because

A) sellers have more time to expand production. B) buyers have more time to search for substitutes. C) price increases over time make the price larger relative to buyers' incomes. D) the inverse relationship between the price and the quantity demanded weakens over time. E) buyers get used to the new price.

The equilibrium rent for marginal land

A. equals zero. B. depends on the supply and demand of land. C. exceeds the opportunity cost of the land. D. is always greater than the equilibrium rent for nonmarginal land.