We're not considering only luxury goods though. There'll always be other suppliers of shoes willing to cut their prices to match demands, just like other colleg

We're not considering only luxury goods though. There'll always be other suppliers of shoes willing to cut their prices to match demands, just like other colleges will cut their prices to match a spectrum of demand. I think the point is that a Harvard degree will remain viewed as worth more than a Podunk College degree, regardless of the demand because the supply is naturally self-limiting. However, the cost of Podunk College will oscillate with the demand/supply.