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What is the effect of a decrease in population (perhaps caused by the plague) on the market for land?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Answer it correctly please, MY LAST ATTEMPT. I ll rate accordingly with multiple votes. Do it correct and fast. Explain well.

What is the effect of a decrease in population (perhaps caused by the plague) on the market for land?
A decrease in the equilibrium rental price of land.
An increase in the marginal product of land.
An increase in the demand for land.
A decrease in the supply of land.

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