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2. Suppose that De Beers is a single-price monopolist in the diamond market. De Beers has five potential customers: Raquel, Jackie, Jake, Elijah, and Jordan.
2. Suppose that De Beers is a single-price monopolist in the diamond market. De Beers has five potential customers: Raquel, Jackie, Jake, Elijah, and Jordan. Each of these customers will buy at most one diamond - and only if the price is just equal to, or lower than, their willigness to pay. Raquel's willigness to pay is $400; Jackie's, $300; Jake's, $200; Elijah's $ 100; and Jordan's, $0. De Beer's marginal cost per diamond is $100. Consider De Beers as a profit-maximizing monopolist. How many people will be able to buy diamonds from De Beers
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