On: Scarcity Truthers

[dredmorbius]

It details how and why land is price inelastic, and how elasticity is defined.

Economically, ag and urban land behave similarly. To wit: they're not making it any more. The supply is price-inelastic.

Your understanding is incorrect.

[whatshisface → dredmorbius]

Tenants in cities don't rent land, they rent housing. You can vary the amount of housing on a plot by making investments.