Say there are 3 suppliers of lithium batteries in a country. They charge all 10 electric car manufacturers $1000 per lithium battery; then the suppliers decide to charge $10,000 per battery to all manufacturers"because they can". This is an example of:

a price discrimination

b market power

c perfect competition

b regulation

Which of the following is a feature of Sweezy oligopoly?

a. The firms face higher average costs as quantities increase

6.Free entry and exit is not possible in the market.

c.There are 100 firms in the market serving many consumers.

d. Each firm believes that rivals will cut their prices in response to a price reduction, but will not raise their prices in response to a price increase.