Million on 16 December 2008
| SamuelRSmith said: ^ Yes, but what you're basically saying is that luxury goods are perfectly inelastic, when they're not, they're the complete reverse. |
Sorry , I'm assuming that there is constant demand for the goods like in the games industry. I was looking at a monopoly more in relation to lucrative markets ; of course having a monopoly on a particular luxury good won't neccaserily mean that you can determine the price.
