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that competes aggressively in prices. Due to the high fixed cost of
obtaining the technology associated with entering this market, only a
limited number of other firms exist. Furthermore, over 70 percent of the
products sold in this market are protected by patents for the next
eight years. Does this industry conform to an economistâs definition of a
perfectly competitive market?
Originally posted 2014-05-11 04:53:00. Republished by Blog Post Promoter
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