Property Valuation
In Kansas, the 'scarcity' principle in real estate economics states that value increases when:
AProperties become more plentiful
BUseful properties are limited in supply relative to demand✓ Correct
CMultiple buyers compete for multiple properties
DLand supply is unlimited
Explanation
Scarcity means that limited supply of desirable real estate contributes to value — when supply is constrained and demand remains high, values increase.
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