2 ms·
That's a paper talking about agricultural land use...
by whatshisface 5y ago
That's a paper talking about agricultural land use...
- dredmorbius 5y agoIt details how and why land is price inelastic, and how elasticity is defined. Economically, ag and urban land behave similarly. To wit: they're not making it any more. The supply is price-inelastic. Your understanding is incorrect.
- whatshisface 5y agoTenants in cities don't rent land, they rent housing. You can vary the amount of housing on a plot by making investments.