Question

simple meaning of relatively fixed supply​

Answer 1

This means that no amount of change in demand can change the supply of land. Hence, we can conclude that the supply of land is perfectly inelastic from the perpective of an economy whereas it is relatively elastic from the perspective of a single firm.

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Answer 2

Answer:

This means that no amount of change in demand can change the supply of land. To point out, this characteristic is evidence that the supply of land is perfectly inelastic. However, any free gift of nature is abundant, when seen through the lens of a single firm.