Consider an industry you are familiar with. Some examples can be aviation, cellular service provider, cellphone handset manufacturer, automobile, two-wheeler, laptop, steel manufacturer, etc. (These are indicative examples andyou can pick any industry you want.)

Problem Statement 1

Find the firms (at least the major ones) in that industry.

• Find their market share. Furnish the data.
• Is there a firm/firms that control the majority of the market share? Calculate the Herfindahl Hirschman Index (HHI).
• Based on this information, identify what type of market is it (perfectly competitive/monopoly/ monopolistically competitive/oligopoly).

Problem Statement 2

Pick any one firm in this market.

• What sort of product does this firm sell?
• Does this firm control a large market share compared to its competitors?
• What advantages does this firm have over its competitors?

Problem Statement 3

Review the firm's pricing strategies.

• Are these consistent with the pricing strategies followed in that type of market?
• Recommend how the firm can increase its revenue.