Answer to Question #70196 in Macroeconomics for Baby

Question #70196
Lonewolf Ltd is the sole manufacturer and supplier of solar panels in the country. As a result of this the CEO claimed in a recent meeting that he can set any price he wishes and sell as many units of his products as he wants at that price. Is this correct? Motivate your answer.
1
Expert's answer
2017-09-22T09:03:06-0400
No, it is not correct. CEO doesn’t take into consideration demand on solar panels.

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