Select the true statement about the impact of automation on employment. a.) Automated processes have no effect on the number of employees needed in a business. b.) While some job loss may occur as a result of automation, the potential for job creation exists. c.) There will be a decreased need for workers who maintain robotic technologies. d.) Artificial intelligence has not been used much in industries other than transportation.

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.