The concept utilizes a monopolist to simplify explanations regarding product durability.
The durability problem is not limited to "monopolists" in the strict sense of the term.
It may happen in all markets for durable goods, although it is easier to understand it with a single seller.
Replacement of functioning goods refers to business strategies that persuade or force consumers to purchase new products.
Annual style changes of cars and revised editions of textbooks are prime examples of planned obsolescence.