Suppose that when the price of gold is $100 an ounce,

gold producers find it unprofitable to sell gold. However, when the price is $200 an ounce, 5000 ounces of output

(production) is profitable. At $300, a total of 10,000 ounces of output is profitable. Similarly, total production increases by 5000 ounces for each successive $100 increase in the price of gold. Describe the relevant relationship between the price of gold and the production of gold in a table and on a graph. Put the price of gold on the vertical axis and the output of gold on the horizontal axis. LO6