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Answer to Question #76306 in Macroeconomics for Sy
Question #76306
Lonewolf Ltd is the sole manufacturer and supplier of a sonar 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 if his products as he wants at that price. Is this correct?
Expert's answer
It is not correct. The amount of sold products are restricted by demand, so quantity demanded is different for every price.
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