for the gold mine Q Assume that the golda mining industry is competitive () Illustrate a long-run equilibrium wsing, ding round market and for a representative gold bSulpose that an incregle in de wellary demand induces a Surge in the demand for gold. Using your diogrowse Show what happens in the short go to the market and to ach existing gold mine. (C) If the demand for gold remains high, what would happen to the Price over time! Specifically longe run equilibrium Price be above, below, or equal to the short-run equilibrium Price in park b. the guide would the new 12 ICS Scanged with CamScanner