The World View "High Gold Price Swells Ranks of Illegal Miners"related to gold prices and gold mining suggests
A) As the price of gold rises, the quantity supplied falls.
B) As the price of gold increases, there is an increase in quantity supplied, indicating that supply is elastic.
C) Miners around the world have had difficulty finding additional sources of gold, indicating that the elasticity of supply is inelastic.
D) Miners have found new supplies of gold, indicating that the demand for gold is inelastic.

Question

Quizplus · Accepted Answer

As the price of gold increases, miners are incentivized to supply more gold, indicating that the supply is elastic.