When the Supply Curve of Land Is Upward Sloping and Intersects

Multiple Choice

When the supply curve of land is upward sloping and intersects the demand curve at $30 per acre, then the last acre brought into production receives

A) $30 in land rent
B) $0 in land rent
C) average land rent of somewhere between $0 and $30, depending on the price of land
D) land rent equal to the price of an acre of land
E) land rent greater than $30 because the last acre is located to the right (in the land market graph) of the intersection of the demand and supply curves