An increase in rent wouldA) increase the demand for land.B) decrease the demand for land.C) increase the supply of land.D) decrease the supply of lanD.E) None of the choices are correct.

Question

Jordan Wilkes · Accepted Answer

Final Answer : E, Explanation :  An increase in rent does not directly affect the demand or supply of land. Demand and supply are influenced by factors such as price, income, and preferences, but an increase in rent is a consequence of changes in demand and supply, not a cause. The supply of land is also relatively inelastic since the amount of land available is fixed and cannot be increased in response to higher rents.

An increase in rent would

A) increase the demand for land.
B) decrease the demand for land.
C) increase the supply of land.
D) decrease the supply of lanD.
E) None of the choices are correct.

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