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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.
Expert's answer
No, it is not correct. CEO doesn’t take into consideration demand on solar panels.
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