1. Apply simple elasticity-based markup formulas to determine profit-maximizing prices in environments where a business enjoys market power, including monopoly, monopolistic competition, and Cournot oligopoly. 2. Formulate pricing strategies that permit firms to extract additional surplus from consumers-including price discrimination, two-part pricing, block pricing, and commodity bundling-and explain the conditions needed for each of these strategies to yield higher profits than standard pricing 3. Formulate pricing strategies that enhance profits for special cost and demand structures-such as peak- load pricing, cross-subsidies, and transfer pricing-and explain the conditions needed for each strategy to work. 4. Explain how price-matching guarantees, brand loyalty programs, and randomized pricing strategies can be used to enhance profits in markets with intense price competition