Gorilla Inc. is a fictional company mentioned in the question that sells an AI headset product in a monopoly market. It is the sole producer of this particular product and has complete control over its pricing and supply.
Related terms
Market Power: Market power refers to the ability of a firm (like Gorilla Inc.) to influence prices or control the market due to factors such as being a monopoly.
Elasticity of Demand: The elasticity of demand measures how responsive consumers are to changes in price. In a monopoly market, firms often have less elastic demand because there are no close substitutes available.
Profit Maximization: This term refers to when companies like Gorilla Inc. aim to maximize their profits by producing at the quantity where marginal revenue equals marginal cost.