If the Market for Diamonds Is a Monopoly, Then

question 71

Multiple Choice

If the market for diamonds is a monopoly, then

• A) there is an inefficient amount of resources allocated to the diamond market.
• B) the prices of diamonds are too low.
• C) diamond production is at the amount where the marginal social benefit equals the marginal social cost.
• D) the diamond market is efficient.

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Definitions:

Chronic Diseases

Diseases that persist for a long time, usually longer than three months, such as diabetes, heart disease, and cancer.

Diastolic Pressure

The pressure in the arteries when the heart rests between beats, recorded as the bottom number in blood pressure readings.

Cardiovascular Disease

A general term for conditions affecting the heart and blood vessels, such as coronary artery disease, heart attack, and stroke.

Susceptible

The state of being likely to be influenced or harmed by a particular condition or disease.