Can you help me answer thisquestion using topics likecompetitive market, average andtotal revenue, profit maximization,shutdown or exit, sunk cost,monopolies, deadweight loss, socialcost, public policy, regulation, publicownership, and price discrimination.Around 400 word answer

Topic B Problem: A friend of yours says, "in a capitalist economy, if people are willing to pay a lot for something, then businesses will charge a lot for it," Is your friend's statement always true? If not, when would this statement be false, and why