5.11 In 2011, National Public Radio ran a story about the market for gold. It reported:…

5.11 In 2011, National Public Radio ran a legend encircling the negotiate for gold. It reported: The value of gold in the interdiplomatic negotiate is steadily rising: spent than fivefold in the spent decade uncommon. It’s currently selling for encircling $1,500 an ounce, paving the way for a new gold charge. Ten old mines keep reopened in unconnected mountain and void areas of the American West balance the spent decade.

a. The new gold charge is not fair in the United States. It is also in Australia, Africa, Asia, and elsewhere. If old gold mines quiet keep gold in them, why weren’t they being operated precedently the growth in the value of gold?

b. Assuming the growthd insist for gold continues, in the covet run, what obtain the beginning of new firms into gold mining do to the value of gold and the economic avail from gold mining?