Need asap will give timed test
desmond works in power, structural, and technical systems. he would most likely be employed by
a farm company or dealership.
a small farm or bakery.
a government agency or homeowner.
a private company or animal breeder.

Which of the following statements is (are) true? i. free entry to a perfectly competitive industry results in the industry's firms earning zero economic profit in the long run, except for the most efficient producers, who may earn economic rent. ii. in a perfectly competitive market, long-run equilibrium is characterized by lmc < p < latc. iii. if a competitive industry is in long-run equilibrium, a decrease in demand causes firms to earn negative profit because the market price will fall below average total cost.