Which statement about conflict diamonds is true?Multiple choice question.They are over-extracted because the present value of future sales is overestimated.They are over-extracted because user costs are overestimated.They are over-extracted because property rights to diamond mines are uncertain.They are conserved to pay to rebuild the country once the wars have ended.

Multiple Choice QuestionWhy is there no incentive to conserve conflict diamonds as a resource?Multiple choice question.Nobody can be sure of controlling the mines for more than a few months.Their poor reputation has destroyed the market for conflict diamonds.Conflict diamonds are considered a renewable resource.There are too many conflict diamonds for the supply to ever run out.

The price of diamonds is substantially greater than the price of water because:

Which statement is true of acquisitions?Multiple choice question.They help preempt competitors. They create more value rather than destroy it.They are more risky compared to greenfield ventures.They cannot be easily executed.

Which of the following statements best defines the tragedy of the commons:答案选项组It can occur when publicly provided goods are overused by taxpayersIt can occur when a non-excludable and non-rival good is overusedIt can occur when a non-excludable and rival good is overusedIt can occur when publicly provided goods are overused by free-riders

A large share of the world's supply of diamonds comes from Russia and South Africa. Suppose that the marginal cost of mining diamonds is $1000 per diamond, and the demand for diamonds is described by the following schedule: Price($): 8000, 7000, 6000, 5000, 4000, 3000, 2000 Quantity: 5000, 6000, 7000, 8000, 9000, 10000, 11000 a) If there were many suppliers of diamonds, what would be the price and quantity? b) If there was 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 1000 while Russia stuck to the cartel agreement? d) Use your answer to part (c) to explain why cartel agreements are often not successful.