Newton Bay is a sparsely populated area. The government plans to build an international airport there and announces this plan publicly. When hotel chains learn about the airport, they become interested in building new hotels near the airport to accommodate travelers. What is the likely economic impact of this situation on commercial real estate in Newton Bay? The demand for land will increase.
The price of land will decrease.
The demand for land will decrease.
The price of land will increase.
The demand for land will not change.