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mash [69]
3 years ago
7

Diamond rings are relatively scarce because:

Social Studies
1 answer:
schepotkina [342]3 years ago
3 0

Answer: Diamond producer restrict diamond quantity supply to certain limit in market

Explanation:

Diamond is a precious gem stone that used for making jewelry pieces and other related items.It is also used for making diamond ring but there is scarcity of it in market as it is an expensive thing and many people are ready for paying lot of amount for it .Thus, producer of diamond limit its supply quantity in market

Other options are incorrect because diamonds are not less common in market than other gems, demand is not extensively high in market and neither it faces monopolistic competition.

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lara [203]

The correct answer is that, Monopoly sets their own prices.

When there is no competition in a monopoly it shows that , monopoly they do set their own prices. Monopoly is termed as the only enterprise or person who supplies a particular commodity.

They are characterized by way of lacking competition in economic which produces either services or goods.

We say that there is high monopoly profit when there is monopoly price is being high than marginal cost of the seller.

Government can establish monopolies by integration form.

7 0
3 years ago
What is a summary of the lasting effects of the search for gold in the west
telo118 [61]
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8 0
3 years ago
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Klio2033 [76]
The U.S.A. taxpayers (in the case of U.S.A. representatives and senators, that is).
6 0
3 years ago
A certain drug reduces the activity of the central nervous system, including the hippocampus and cerebellum. It affects several
Lina20 [59]

Answer:

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4 0
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3 0
3 years ago
Read 2 more answers
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