Concept:The price elasticity of supply measures how much quantity supplied changes when the price changes.
Explanation:The total supply of land is fixed by nature.
It cannot be increased or decreased when the market price of land changes.
So, the percentage change in quantity supplied is zero for any percentage change in price.
Using the formula,
Es=% change in price% change in quantity suppliedHere, numerator is zero, so
Es=0.
This is called perfectly inelastic supply.
Therefore, the correct option is C: Zero.
Answer:C. Zero