What is the economic problem facing the monopolist? Why is this problem material? What must the monopolist do to overcome this economic problem? In short, what is your recommendation to overcome the monopolist's material economic problem? Why is your recommendation counter-intuitive in the context of traditional 5-forces analysis? As noted in the supplemental slides, all firms are price-takers. In short, industry structure is unattractive if the focal industry exhibits externalities. In other words, why do firms have little to no price control? What is the most likely outcome if the monopolist attempts to increase price