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A)Assume that the gold-mining industry is perfectly competitive.On the diagrams below,illustrate the long-run equilibrium in the overall gold market and for a representative gold mine.Draw the industry supply and demand curves as well as the firm's marginal cost curve.Indicate the equilibrium prices and quantities in both markets (at the industry-level and at the firm-level).

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A)Assume that the gold-mining industry is perfectly competitive.On the diagrams below,illustrate the long-run equilibrium in the overall gold market and for a representative gold mine.Draw the industry supply and demand curves as well as the firm's marginal cost curve.Indicate the equilibrium prices and quantities in both markets (at the industry-level and at the firm-level).