Asked by
Shauna Perkins
on Oct 12, 2024Verified
Which statement is true?
A) As rents rise more marginal land is used.
B) As rents rise less marginal land is used.
C) Land is basically free.We pay rent for the buildings that are situated on the land.
D) None of the statements are true.
Marginal Land
Land that produces little yield or economic value due to poor quality, location, or other factors, making it the least productive for agricultural use.
Rents
Payments made periodically by a tenant to a landlord in exchange for the use of land, a building, or other property.
- Pinpoint the factors impacting land's supply and demand dynamics.
Verified Answer
MM
Learning Objectives
- Pinpoint the factors impacting land's supply and demand dynamics.