Price ceiling

Q:  My group would like to know if there is a price ceiling on demand.  An example would be if you were the only one in Sereno selling product and your price was outrageously high, would you sell out, or would demand taper off as your price goes up even though you are the only one selling, theoretically, until no units are sold..

A:  The answer to your question about prices is that your product shows sensitivity to price changes, even if you are the only one in Sereno selling product.  If your price becomes outrageously high, not very many from Sereno will buy it.  The larger the increase in price, the fewer the people who will buy it.  I presume you might stop raising the price before the demand approaches zero.