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, 21.06.2019 14:50

For fundamental-type variables, list-initialization syntax prevents narrowing conversions that could result in data loss. for fundamental-type variables, list-initialization syntax allows narrowing conversions that could result in data loss.

Answers: 2

Answer

Business, 22.06.2019 05:10

Responsible for setting the goals and planning for the future as well as leading and controlling the work of others. out the decisions of top management. often responsible for various departments such as the production, marketing, and accounting departments. process or function of planning organizing leading and controlling. the resources arranged in an orderly and functional way to accomplish goals and objectives. the company on track and making sure goals are met. for the daily operations of a business. examples of this are supervisors, office managers, and crew leaders. act or process of creating goals and objectives as well as the strategies to meet them. for the daily operations of a business. examples of this are supervisors, office managers, and crew leaders. how the firm is structured and who is in charge of whom. direction and vision

Answers: 3

Answer

Business, 22.06.2019 10:40

You were able to purchase two tickets to an upcoming concert for $100 apiece when the concert was first announced three months ago. recently, you saw that stubhub was listing similar seats for $225 apiece. what does it cost you to attend the concert?

Answers: 1

Answer

Business, 22.06.2019 13:40

Horace society is planning its annual western fair raceway gala. the gala committee has assembled the following expected costs for the event: dinner (per person) $10 gaming token and program (per person) $2 prize payouts $4,300 tickets and advertising $800 private box suite rental $1,700 lottery licenses $200 the committee members would like to charge $40 per person for the evening’s activities.required: 1. what is the break-even point for the dinner-dance (in terms of the number of persons who must attend)? 2. assume that last year only 200 persons attended the dinner-dance. if the same number attend this year, what price per ticket must be charged in order to break even? 3. refer to the original data ($40 ticket price per person). prepare a cvp graph for the dinner- dance from zero tickets up to 600 tickets sold.

Answers: 2

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