301lec16supp

301lec16supp - Canada 710 0.75 Chile 3660 0.50 Indonesia...

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Supplement to Lecture 16 Econ 301 Professor Severinov World Supply of Copper
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World Supply of Copper Short-Run: supply from existing copper mines Long-Run: exploration and development of additional mines International Cost Differences For mining, smelting and refining labor costs transportation costs copper content of ore (quality)
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Chapter 8 Slide 51 The World Copper Industry (1999) Annual Production Marginal Cost Country (thousand metric tons) (dollars/pound) Australia 600 0.65
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Unformatted text preview: Canada 710 0.75 Chile 3660 0.50 Indonesia 750 0.55 Peru 450 0.70 Poland 420 0.80 Russia 450 0.50 United States 1850 0.70 Zambia 280 0.55 SR Copper Supply: Canada Capacity 710 1000 Th. Met. tons Q S CA P $/lb. MC CA 0.75 Chapter 8 Slide 52 The Short -Run World Supply of Copper Production (thousand metric tons) Price ($ per pound) 0 2000 4000 6000 8000 10000 0.40 0.50 0.60 0.70 0.80 0.90 MC C ,MC R MC J ,MC Z MC A MC P ,MC US MC Ca MC Po...
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301lec16supp - Canada 710 0.75 Chile 3660 0.50 Indonesia...

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