Business, 17.08.2021 16:20 ariloveshorses

If there were many suppliers of diamonds, the price would be $3,000 per diamond and the quantity sold would be 7,000 diamonds. If there were only one supplier of diamonds, the price would be $8,000 per diamond and the quantity sold would be 2,000 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 will increase to

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If there were many suppliers of diamonds, the price would be $3,000 per diamond and the quantity sol...

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