Your business will pay you different Cash Flows at the end of each year for 4 year. Assuming the sum of present value of all Cash Flows are equal $9500 today, what is dollar amount of the Cash Flow at the end of the third year. (Consider the discount rate as 10%)1styear$3,0002ndyear$3,5003rdye ar

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.