ly Home Module Seven Quiz X Courses 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 Tot $1,000 per diamond, and the demand for diamonds is described by the following schedule: Catalog and Study Tools A-Z Rental Options Price Quantity (Dollars) (Diamonds) College Success Tips 8,000 5,000 7,000 6,000 Career Success Tips 6,000 7,000 5,000 8,000 Help 4,000 9,000 Give Feedback 3,000 10,000 2,000 11,000 1,000 12,000 If there were many suppliers of diamonds, the price would be S per diamond and the quantity sold would be diamonds. If there were only one supplier of diamonds, the price would be S per diamond and the quantity sold would be diamonds. Suppose Russia and South Africa form a cartel. In this case, the price would be S per diamond and the total quantity sold would be diamonds. If the countries split the market evenly, South Africa would produce diamonds and earn a profit of |$ O If South Africa increased its production by 1,000 diamonds while Russia stuck to the cartel agreement, South Africa's profit would to S