Land and bubbles.

In an overlapping generations model in which people live for two periods, with the population growing at rate PI and no production (all good. come from the exogenous endowment of the young), there I, a given amount of land. The land has no productive use.
(a) Can there be a bubble land in this economy? Discuss the relationship between your answer and the efficiency of equilibrium in the real world in view of the fact that land is valued in the real world.
(b) Suppose now that the economy becomes a production economy, that individuals' only endowment is one unit of labor in the first period of life and that the production function is Cobb-Douglas, with constant returns to scale in terms of land, labor, and capital. Can there be a steady state?
(c) Can there be a bubble on land in this economy in which land is a productive asset?