Maharashtra State BoardHSC Commerce 12th Board Exam
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Give Reason Or Explain the Following Statement: the Supply of Land is Inelastic . - Economics

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Give reason or explain the following statement:

The supply of land is inelastic .

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Solution

The supply of land cannot be either increased or decreased but only the quality of land can be improved. The availability of land is fixed at-any time, hence, the supply of land is inelastic.

Concept: Concept of Supply
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