ECO 561 Week 3 Complete
DQ1.How was De Beers able to control the world
price of diamonds over the past several decades even though it produced only 50
percent of the diamonds? What factors ended its monopoly? What is
its new strategy for earning economic profit, rather than just normal profit?
DQ2.Why is there so much advertising in
monopolistic competition and oligopoly? How does such advertising help
consumers and promote efficiency? Why might it be excessive at times?
Complete
the Week Three Knowledge Check.
Complete
the Learning Team Deliverable.
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561 Week 3 Complete
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