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    1. Imagine a company acting as a monopoly and a new competitor arrive in the marketplace. Assess how the monopoly would likely change its pricing strategy to compensate for the new competition.

    2. Speculate how the monopolist could be more efficient in the long-run considering new competition has entered the marketplace.

    3. Research the automotive industry, which acts as an oligopoly.Assess the marketing and pricing strategies, for example rebates, to determine the goal(s) of the marketing and pricing strategies for one of the companies you researched. Make one recommendation for changes that the company should make to better maximize profits.

    4. The Internet has made shopping for airline tickets efficient for the consumer. As a result, the industry overall is price sensitive. Suggest how the airlines can maximize profits while avoiding price wars.