Q2.Lonewolf ltd is the sole manufacture and supplier of solar panels in the country .As a...

Q2.Lonewolf ltd is the sole manufacture and supplier of solar panels in the country .As a result of this the C.E O claimed in a recent meeting that he can set any price he wishes and sells as many units of his product as he wants at that price.Is it CORRECT motivate your answer.

2.1 . Explain using properly labelled diagrams ,why a perfecltly competitive firm will earn only a normal profit in the long run.

Expert Solution

Rahul Sunny answered 2 years ago

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