A large share of the world supply of diamonds comes from Russia and South Africa. Suppose that the marginal cost of mining diamonds is constant at $2,000 per diamond, and the demand for diamonds is described by the following schedule:PriceQuantity(Dollars) (Diamonds)8,000 2,0007,000 3,0006,000 4,0005,000 5,0004,000 6,0003,000 7,0002,000 8,0001,000 9,000

If there were many suppliers of diamonds, the price would be $ per diamond and the quantity sold would be diamonds. If there were only one supplier of diamonds, the price would be $ per diamond and the quantity sold would be diamonds. Suppose Russia and South Africa form a cartel. In this case, the price would be S per diamond and the total quantity sold would be diamonds. If the countries split the market evenly, South Africa would produce diamonds and earn a profit of $ If South Africa increased its production by 1,000 diamonds while Russia stuck to the cartel agreement, South Africa's profit would to S Why are cartel agreements often not successful? O All parties would make more money if everyone increased production. O Different firms experience different costs. O One party has an incentive to cheat to make more profit