Price in excess of time, If the demand for gold residue

Price in excess of time

Assignment Help Business Economics

Reference no: EM138768

Q. Assume that his gold-mining industry is competitive.

Illustrate a long-run equilibrium using diagrams for the gold market and for a representative gold mine.

Suppose that an increase in jewelry demand induces a surge in the demand for gold. Show what happens in the short run to the gold market and to each existing gold mine.

If the demand for gold residue high explain what would happen to the price in excess of time? Exclusively, what would be the new long-run equilibrium price be above, below or equal to the short run equilibrium price? Is it possible for the new long-run equilibrium price to be above the original long-run price of equilibrium? Explicate?

Reference no: EM138768

Questions Cloud

Find magnitudes of the net magnetic fields : The drawing shows one horizontal wire with the current going up and one vertical wire with the current going to the right. Point A is dH to the right and dV above the intersection. Point B is dH to the left and dV below the intersection.

Homo sapiens production possibilities curve : Why might the Homo sapiens production possibilities curve have shifted outward to the right much more rapidly than those of Neanderthals.

World population growth crisis : Momentum treatise to the current world population growth crisis.

What is the maximum speed the car : In a diesel engine, the piston compresses air at 302 K to a volume that is 0.0612 of the original volume and the pressure that is 46 times the original pressure. What is the temperature of the air after the compression.

Price in excess of time : If the demand for gold residue high explain what would happen to the price in excess of time.

What tension is required for a wave : Two packages at UPS start sliding down a ramp 40 degrees from the horizontal, Package A is sliding down in front of Package B. Package A has a mass of 3.50 and a coefficient of kinetic friction of 0.220. Package B has a mass of 8.00 and a coefficient..

What minimum projection angle would achieve this result : An airplane is flying with the velocity of 85.0 m/s at an angle of 20.0 degrees above the horizontal. When the plane is a distance 107 m directly above the dog that is standing on level ground, a suitcase drops out of the luggage compartment. How far..

What is the mass of the sculpture : When one gallon of gasoline is burned in a car engine, 1.18 x 10^8 J of internal energy is released. Suppose that 0.99 x 10^8 J of this energy flows directly into the surroundings (engine block and exhaust system) in the form of heat. If 6.0 x 10^5 J..

The force from the cable do work on the cab : A mass m = 90 kg slides on a frictionless track that has a drop, followed by a loop-the-loop with radius R = 18.8 m and finally the flat straight section at the same height as the center of the loop (18.8 m off the ground). Because the mass would not..

User Account

All Pages