Long-run behavior, Microeconomics

 

The Long-Run Behavior of Natural Resource Prices

Observations

– Exhaustion of copper has increased by a hundred fold from 1880 through 1998 signifying a large increase in demand.

– The actual price for copper has stayed relatively constant.

Changes in Market Equilibrium

2154_long run curve.png

Conclusion

– Reduction in the costs of production have increased the supply by more than enough to balance the increase in demand.

Posted Date: 7/24/2012 8:25:25 AM | Location : United States







Related Discussions:- Long-run behavior, Assignment Help, Ask Question on Long-run behavior, Get Answer, Expert's Help, Long-run behavior Discussions

Write discussion on Long-run behavior
Your posts are moderated
Related Questions
Problem 1: (a) Differentiate between positive and negative externalities? Justify your answer using examples. (b) To what extent do government policies influence externali

why can methane not be prepared by this reaction

Ask quesIn your own words describe how a market would adjust in situations of: a) Excess Demand b) Excess Supply c) Equilibrium As a follow up you might think about what effects

Suppose you are a regulator in charge of allocating water between residential and agricultural users (farmers) in Southern California. You conduct a survey that finds that under th

explain about integrability problem

Plot the demand schedule and draw the demand curve for the data given for Marijuana


conditions for an abnormal supply curve

Lovers of classical music persuade Congress to impose a price ceiling of $40 per concert ticket.

How to determine the number of moles of butane by your number of moles of butane? using (PV=nRT)