Q40Canadian rice producers use a combination of land and labour and try to minimise costs. If the relative price of land rises, then the effect on the use of inputs will be...a.No change in the land/labour ratio.b.An increase in the land/labour ratio.c.A decrease in the land/labour ratio.d.To decrease the use of land in rice production with no change in the amount of labour used.e.None of the other options are correct.Clear my choice

Canadian rice producers use a combination of land and labour and try to minimise costs. If the relative price of land rises, then the effect on the use of inputs will be... a. No change in the land/labour ratio.

Canadian rice producers use a combination of land and labour and try to minimise costs. If the relative price of land rises, then the effect on the use of inputs will be... a. No change in the land/labour ratio.

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter32: The Land Market And Natural Resources

Section: Chapter Questions

Problem 5E

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Q40

Canadian rice producers use a combination of land and labour and try to minimise costs. If the relative price of land rises, then the effect on the use of inputs will be...

No change in the land/labour ratio.

An increase in the land/labour ratio.

A decrease in the land/labour ratio.

To decrease the use of land in rice production with no change in the amount of labour used.

None of the other options are correct.

Clear my choice

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