A large share of the world supply of diamonds comes from Russia and South Africa. Suppose that the marginal cost of mining diamonds is constant at $1,000 per diamond, and the demand for diamonds is described by the following schedule: Price Quantity
8,000 5,000
7,000 6,000
6,000 7,000
5,000 8,000
4,000 9,000
3,000 10,000

Required:
a. If there were many suppliers of diamonds, what would be the price and quantity?
b. If there were only one supplier of diamonds, what would be the price and quantity?
c. If Russia and South Africa formed a cartel, what would be the price and quantity? If the countries split the market evenly, what would be South Africa's production and profit? What would happen to South Africa's profit if it increased its production by 1,000 while Russia stuck to the cartel agreement?
d. Use your answers to part (c) to explain why cartel agreements are often not successful.

Afreelance​ singer-songwriter is planning the restoration of a recently purchased civil​ war-era farmhouse. while he professes an enjoyment​ of, and talent in the construction​ trades, the theory of comparative advantage implies that a. the value of what he imports​ (in this​ case, professional contractor​ services) must equal the value of what he exports​ (songs). b. he should concentrate on the restoration work since his​ out-of-pocket costs will be much lower than if he hires professionals. c. ​self-sufficiency is​ advantageous, hence he should split his time between music and construction. d. the income lost while away from music will likely exceed the savings realized by doing the work​ himself, thus, he should hire professionals to do the restoration work. e. he ought to do as much of the work himself as possible since imports​ (in this​ case, professional contractor​ services) should always be restricted to those things that cannot be done internall

Which of the following is not a consideration when determining your asset allocation

Asmartphone manufacturing company uses social media to achieve different business objectives. match each social media activity of the company to the objective it the company achieve.