which factor of production is fixed in supply?why?
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Fixed Supply
Land is a strictly fixed factor of production. Obviously, the quantity of land in existence will always remain the same and no human power can alter that. This means that no amount of change in demand can change the supply of land.
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Answer:
Fixed Supply
Land is a strictly fixed factor of production. Obviously, the quantity of land in existence will always remain the same and no human power can alter that. This means that no amount of change in demand can change the supply of land.
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