Problem
Predict how each of the following events will raise or lower the equilibrium wage and quantity of coal miners in West Virginia. In each case, sketch a demand and supply diagram to illustrate your answer.
a. The price of oil rises.
b. New coal-mining equipment is invented that is cheap and requires few workers to run.
c. Several major companies that do not mine coal open factories in West Virginia, offering a lot of well-paid jobs.
d. Government imposes costly new regulations to make coal-mining a safer job.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.