Read "De Beers: Are Monopolies Forever?" and answer the following questions in 1-2 paragraphs:

1. How was De Beers able to control the world price of diamonds even though it produced only 45% of the world's diamonds? 2. Explain two or more factors that ended the monopoly. 3. What is its new strategy for earning(short run)economic profit, rather than normal profit?

4. Given what you know so far, what are your main takeaways about De Beers and monopolies in general?