Answer:
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Explanation:
Supply is inelastic and demand is elastic for land.
The difference between marginal cost and marginal revenue is Marginal cost is the money paid for producing one more unit of a good. Marginal revenue is the money earned from selling one more unit of a good. Thus the correct answer is B.
<h3>What is marginal cost?</h3>
The difference in total production costs caused by producing or manufacturing one extra unit is known as the marginal cost of production.
In order to maximize production and overall operations, an organization must first decide when it can achieve economies of scale.
The sum of money spent to create one additional unit of a good is its marginal cost. Selling one additional unit of a good results in a profit known as marginal revenue.
Therefore, option B is the appropriate answer.
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Answer:
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Explanation:
a constitution is a body of fundamental principles or established precedents according to which a state or other organization is acknowledged to be governed. It is needed because it establishes our very government as it is meant to be
