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In 1866, a child walking along the Orange River in South Africa picked up an odd-looking pebble that turned out to be a 21-carat diamond. That discovery on a farm owned by Johannes De Beers sparked the largest diamond mine in history. When the Great Depression caused a slump in diamond prices, De Beers Consolidated Mines undertook successful efforts to control the world supply of uncut diamonds and to increase consumer demand for cut diamonds. The company was able to increase consumer demand through a carefully tailored marketing program. De Beers spends about $200 million a year trying to convince people that diamonds are scarce, valuable, and perfect reflections of love. De Beers' slogan, "A diamond is forever," sends several messages, including (1) a diamond lasts forever, and so should love; (2) diamonds should remain in the family and not be sold; and (3) diamonds retain their value.
Why was this product well suited to monopolization? How could De Beers use its monopoly position to increase demand? How did it maximize its profits? Were there substitues or complements that were impacted by De Beers action?
Merchant banking refers to:Banking services that are only available to retail merchants.Banking services that are only available to business but not the general public.
Discuss the prospects for demand for the kind of automobiles manufactured by Hyundai in two countries: China and Turkey.
According to Exhibitor Relations Co., in 2006 average movie ticket prices were $6.55 and attendance was 1.4 billion; in 2007 ticket prices were $6.88 and attendance was 1.41 billion.a. What happened to total revenue from 2006 to 2007?
What would be the appropriate fiscal policy to help our economy? Please evaluate how our economy is doing and why you selected your respective fiscal policy action. What are some of the challenges of using fiscal policy to stabilize our economy
Two hazardous environment facilities are being evaluated, with the projected life of each facility being 10 years. The cash flows for each facility are shown in the table below.The company uses a MARR of 14%. Based on the rate of return, which is t..
Demand and supply functions of tomato are listed below, The maximum value of tomatoes that manufacturer will offer for sale if the price of tomatoes is $ 0.30
June 26 2008 - A recent opinion through Opinion Research Corporation found that many United States businesses are missing out on vital feedback and ideas from their own workforces.
Determie what geopolitical events helped shape John Maynard Keynes theories and how did they shape the future of economic policy in the United States and other Western nations?
Plot these curves on graphs. Compare the cost curves and discuss their characteristics.
If the government subsidizes private colleges and sets the subsidy so that the efficient number of students will enroll in college, what is the subsidy per student? How many students will enroll?
What is adverse selection? How does it harm the economic process and what is moral hazard? What are its consequences
Set up the game and find the equilibrium assuming that Apple and Yahoo move simultaneously, If the firms are Cournot duopolists, how much profit with each firm earn and what will the market price be and how much profit will each firm earn?
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