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In the Pumpkin-Growing Firm Example in the Text, Land Is

Question 156

Multiple Choice

In the pumpkin-growing firm example in the text, land is a fixed factor because


A) it is a physical factor of production.
B) the firm produces a single product.
C) it cannot be varied during the season.
D) it has no close substitutes.
E) the firm is a price-taker.

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