Question $7(10$ marks$)$Read the fictitious scenario below and answer the question that follows:ABC Electronics, a major player in the South African technology industry, has been found guilty of engaging in price$-$fixing practices with its competitors. The Competition Commission alleges that ABC Electronics and other companies in the sector colluded to set prices at a fixed level, thereby restricting competition and adversely affecting consumers.In response to these allegations, ABC Electronics intends to rely on a defence that the conduct, while seemingly anti$-$competitive, was necessary to advance technological efficiency and other pro$-$competitive gains in their industryRequired: Discuss whether ABC Electronics can raise advancing technological efficiency and other pro$-$competitive gains as a valid defence against allegations of price fixing.Note to students: Use case law to substantiate your answer.