An economist argues that “the purpose of the competitive market system is to destroy businesses. The competitive market system acts like the cyborg played by Arnold Schwarzenegger in the movie The Terminator, wiping out any firm that can’t get out of its way. Without the destruction caused by competition, the economy could not achieve productive and allocative efficiency.”

a. Briefly explain whether you agree with this argument. 

b. Do all firms lose as a result of the competitive market process? Do all consumers win? Briefly explain.