Suppose the DeBeers company is a monopolist in its market to sell diamonds. Also suppose this year the company earns economic profits. This implies that the price of diamonds will Question 10Select one: a. be equal to the marginal cost of producing diamonds. b. be equal to the average cost of producing diamonds. c. exceed the marginal cost of producing diamonds, but be equal to the average cost of producing diamonds. d. exceed both the marginal cost and average cost of producing diamonds