Business, 23.08.2021 16:00 larreanathalie3523

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 $2,000 per diamond, and the demand for diamonds is described by the following schedule: Price Quantity (Dollars) Quantity(Diamonds)

8000 2000

7000 3000

6000 4000

5000 5000

4000 6000

3000 7000

2000 8000

1000 9000

If there were many suppliers of diamonds, the price would be per diamond and the quantity sold would be diamonds. If there were only one supplier of diamonds, the price would be per diamond and the quantity sold would be diamonds. Suppose Russia and South Africa form a cartel. In this case, the price would be per diamond and the total quantity sold would be diamonds. If the countries split the market evenly, South Africa would produce diamonds and earn a profit of .

If South Africa increased its production by 1,000 diamonds while Russia stuck to the cartel agreement, South Africa's profit would to . Why are cartel agreements often not successful?

One party has an incentive to cheat to make more profit.

Different firms experience different costs.

All parties would make more money if everyone increased production.

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 08:00

Why do police officers get paid less than professional baseball players?

Answers: 2

Answer

Business, 22.06.2019 15:40

Colter steel has $5,550,000 in assets. temporary current assets $ 3,100,000 permanent current assets 1,605,000 fixed assets 845,000 total assets $ 5,550,000 assume the term structure of interest rates becomes inverted, with short-term rates going to 10 percent and long-term rates 2 percentage points lower than short-term rates. earnings before interest and taxes are $1,170,000. the tax rate is 40 percent earnings after taxes = ?

Answers: 1

Answer

Business, 22.06.2019 22:00

In 2018, laureen is currently single. she paid $2,800 of qualified tuition and related expenses for each of her twin daughters sheri and meri to attend state university as freshmen ($2,800 each for a total of $5,600). sheri and meri qualify as laureen’s dependents. laureen also paid $1,900 for her son ryan’s (also laureen’s dependent) tuition and related expenses to attend his junior year at state university. finally, laureen paid $1,200 for herself to attend seminars at a community college to her improve her job skills.what is the maximum amount of education credits laureen can claim for these expenditures in each of the following alternative scenarios? a. laureen's agi is $45,000.b. laureen’s agi is $95,000.c. laureen’s agi is $45,000 and laureen paid $12,000 (not $1,900) for ryan to attend graduate school (i.e, his fifth year, not his junior year).

Answers: 2

Answer

Business, 23.06.2019 20:10

Imagine you want to convince the local school board that eliminating elective courses for struggling students is a bad idea. which appeal would most likely move this audience to suport your cause?

Answers: 3

Answer

You know the right answer?

A large share of the world supply of diamonds comes from Russia and South Africa. Suppose that the m...

Questions