Question

the initial supply price of land is
​

Answer 1

Answer:

Land is a free gift from nature and therefore its quantity is fixed by nature. ... In other words, the supply of land to the entire economy does not depend on the price i.e., rent for its use. Hence, from the standpoint of the whole economy, the supply of land (which includes natural resources) is perfectly inelastic.

Answer 2

Answer:

It is perfectly inelastic