8. prepare a write-up detailing all your findings (points 1 to 6) for presentation to management. be sure to explain the relationships using plain english and include the best fit graphs as tools to supplement your written explanations. you may use simple equations to illustrate your explanations. include an appendix where you provide all the previously calculated variables for these 10 recommended firms.

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.