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WAEC Economics 2018 Question 11

Question 11

Theory of Production

Which of the following is true about the supply of land? It

  1. A.is higher in the urban than rural areas.
  2. B.varies with time.
  3. C.rises with demand.
  4. D.is fixed.
Show the answer and explanation

Answer: D (is fixed.)

Explanation

The total supply of land is fixed by nature.