In the context of Vail resorts: 1. What happens today to prices and output if you think prices will rise in the future? Why do you think this may occur? Is this occurring in your business? What steps do you think you need to do prepare for this on the production side?

2. Does it make sense for your business to adopt a Disney model? An Uber model? (Read the assigned articles from the Economist that mentions Disney and Uber). Discuss what Disney and Uber are doing, and whether this makes sense for your business. Are prices sticky in your business?

3. Referencethearticlesanddescribetheoilmarketintermsofsupplyanddemand. Which do you think is the most important in affecting price? Which factors are most important for your business?

7. In the Fast Food industry case that opened this chapter in the book, the book shows the market is very competitive as the food is relatively homogeneous. When this occurs, what can firms do? Give example from the article, and then relate to your business.

8. Do you think your business experiences diminishing returns? Economies of Scale? Whats the difference? 9. How is your business address the market for lemons problem? First, briefly explain the lemons problem and then apply it to your business.