Business Studies, asked by Debdas8744, 1 year ago

Give reasons or explain the The supply of land is inelastic.

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Answered by arjun7774

By definition land is inelastic. ... But landowners can't shift land to a different market or reduce production. If land is not on the market for development, it has no value. In other words, in order for a good to be elastic, the production or use must change.

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