Suppose a country called Flat Land managed to drain and reclaim land from the sea, thereby increasing the total amount of land with 10% (a) Discuss how this would affect the market for land? How would...

Suppose a country called Flat Land managed to drain and reclaim land from the sea, thereby increasing the total amount of land with 10%

1. (a) Discuss how this would affect the market for land? How would this affect the landowners: would the rental rate of land go up or down? Discuss and illustrate graphically


2. (b) How would this event affect the labo rmarketinFlatLand?Discussandillustrategraphically