Diamond rings are relatively scarce because:
A)according to geologists,diamonds are less common than is any other gem-quality stone.
B)the demand for diamonds is so high.
C)diamond producers limit the quantity supplied to the market.
D)of monopolistic competition.

Question

Quizplus · Accepted Answer

Diamond producers limit the quantity of diamonds that reach the market to maintain high prices and scarcity. This controlled supply, rather than natural scarcity or market demand alone, is a significant reason for the relative scarcity of diamond rings.

Diamond Rings Are Relatively Scarce Because