The figure given below represents an imperfectly competitive resource market. Here common land (and not land used for specific purpose) is under consideration.Figure 18.1

-Gold mining and the supply of gold depends not only on its price but also on the market rate of interest.

Question

The figure given below represents an imperfectly competitive resource market. Here common land (and not land used for specific purpose) is under consideration.Figure 18.1
 
-Gold mining and the supply of gold depends not only on its price but also on the market rate of interest.

Quizplus · Accepted Answer

The given figure is not related to gold mining or the supply of gold, so it is not relevant to the question. However, in general, it is true that the supply of gold can be influenced by the market rate of interest, as changes in interest rates can affect the cost of producing gold and the decisions of gold mines about how much to produce.

The Figure Given Below Represents an Imperfectly Competitive Resource Market