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In several perfectly competitive markets for minerals used as inputs in digital devices persistent increases in demand eventually have generated long-run

In several perfectly competitive markets for minerals used as inputs in digital devices, persistent increases in demand eventually have generated long-run increases in the market prices of these devices. Describe in words the types of adjustments that must have occurred in these markets to have brought about this outcome, and evaluate whether such mineral-extraction industries are increasing-, constant-, or decreasing-cost industries.

May 16 2020 View more View Less

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