
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Transcribed Image Text:The price of land is said to be "demand determined." Draw a graph to exemplify this. (Assume there is an
increase in the demand for land.)
1.) Using the line drawing tool, draw and label the initial supply of land and the initial demand for land.
2.) Using the line drawing tool, draw and label the new demand for land.
Note: Carefully follow the instructions above and only draw the required objects.
Price ($)
Quantity of land
G
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