3. (Advanced) Interpret this statement: "[Economists] see individuals and businesses as interchangeable atoms, not as unique creators. Their theories describe an equilibrium state of perfect competition because that is what's easy to model, not because it represents the best of business." Is the statement correct? Do economists have theories of monopoly and oligopoly as well? Does economic theory contend that for every product, the market for the product should be perfectly competitive? Does economic theory recommend that under certain conditions, products or production processes should be patented