Answer :
The discovery of natural gas in the American Midwest should lead to an increase in the price of land because of an increase in demand for the land.
The law of demand and supply explains how demand and supply are related to each other and how that relationship affects the price of goods and services. As the law explains that when demand for a product increases, and when supply is limited, so in this situation prices tend to rise.
Here, by the discovery of natural gas in the American Midwest, the prices of the land increased, this happened because of an increase in demand for the land. So when demand increased the price also increased.
Hence, the relationship between demand and supply is it important.
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