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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Canada #340153 on Dec 2023