1. How do pricing strategies vary across markets that are characterized by monopolistic, oligopolistic, and pure competition?

2. Suppose you are in the market for a new Panasonic DVD player. You see one advertised at a locally owned store for $100 less than it costs at Best Buy. The salesperson at the local store tells you that the DVD came from another retailer in the next state that had too many units of that model. Explain who benefits and who is harmed from such a gray market transaction: you, Panasonic, Best Buy, the local store?