Question: Alpha Industries operates in a highly competitive market. While there are a few other firms in the industry due to the high fixed costs of

Alpha Industries operates in a highly competitive market. While there are a few other firms in the industry due to the high fixed costs of building plants, rival firms are very aggressive in their pricing strategies. Of the products sold in the industry, over 90% have 10 years of patent protection remaining. Does this industry meet an economist's definition of a perfectly competitive industry? Explain

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