Practice Application Assignment 1 1) Land Leasing and the One Lesson of Business Suppose that according to the United States Department of Agriculture, there are approximately 2.5 million acres of arable land available for farming in a particular region. Of these, about 1.2 million acres are currently underutilized, with many lying fallow or used for low-value crops. Suppose further that it is currently prohibited for private landowners to lease or sell their underutilized land. a) Describe why this prohibition may result in inefficiency. In other words, explain how this restriction might lead to certain resources staying in relatively low-value uses