Analyzing Causes Between 1997 and 2002, many gold producers cut their budgets for exploring for new sources in order to stay profitable when the price of gold was less than $350 per ounce. When the pr

Analyzing Causes Between 1997 and 2002, many gold producers cut their budgets for exploring for new sources in order to stay profitable when the price of gold was less than $350 per ounce. When the price rose above $400 per ounce in 2004, fold producers were not able to respond quickly to the increase. Use what you about elasticity of supply to explain this cause-and-effect​ relationship