Multiple Choice
Figure 19-3
-The distinguishing feature of the land market is that the
A) supply is highly inelastic.
B) supply is highly elastic.
C) demand is highly inelastic.
D) demand is highly elastic.
Correct Answer:

Verified
Correct Answer:
Verified
Q7: Which factor receives the profit from production?<br>A)Land<br>B)Labor<br>C)Capital<br>D)Entrepreneurship
Q8: Mr.Calhoun owned a worn-out piece of farmland
Q9: The marginal productivity principle implies that<br>A)quantity demanded
Q10: Economic rent is the amount of money
Q11: Putting new ideas to work is called<br>A)invention.<br>B)innovation.<br>C)management.<br>D)MPP.
Q13: The distribution of income in a market
Q14: It is not true of economic profits
Q15: Explain the distinction between investment and capital.
Q16: Figure 19-3 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8592/.jpg" alt="Figure 19-3
Q17: A sum of money received at a