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If the Supply Price on 100 Acres Is Zero, Then

Question 133

Multiple Choice

If the supply price on 100 acres is zero, then $30 for the next 100 acres, and finally $60 for the third 100 acres, the supply curve of land curve is


A) vertical at 100 acres
B) a straight, upward-sloping curve starting at the origin
C) horizontal at $30 (the average rent)
D) upward-sloping and step-shaped
E) U-shaped starting at $30 (the average rent)

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