According to Neill (1992), “It is time to stop sacrificing the economic well-being of the vast majority of Americans and the future of our children to support the conspicuous consumption of the very wealthy” (p. 114). Monopolies are the only ones that can produce certain goods in a specific market. Without alternative products to purchase, monopolies often brand their products as luxury items and in return raise prices. Insights from the monopolistic model suggest that some of the problems that arise from monopoly power are production limitation, artificially higher prices, lower quality, and persistent profits. Others added that monopolies produce less output and charge higher prices than in a purely competitive environment. The monopolist sets marginal revenue equal to marginal cost and output is therefore lower. In monopolies, profits can persist indefinitely, because high barriers to entry prevent new firms from taking part in the market. Since profits are indefinite; monopolies do not need to diversify or improve their products. Therefore, in monopoly profits have no useful social purpose as in pure competition (Ulbrich,