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I am not sure that a monopoly is impossible in a particular commodity, I just suspect that it won't matter much because in most cases the commodity satisfies a more general need that can be dealt with generically, like the need for amusement. Even were someone to corner the market on video games, it wouldn't do them much good because video games compete with everything from basketballs to movies, and they would precipitously lose customers if they did not keep prices reasonable. However, you are right that in virtually all instances, the rise in prices would encourage other entrants into the particular field, and that barring clearly illegal practices (like blowing up the competition), or government sanction, eventually these competitors would chip away at it..... |
