Agent harriet walker has recently begun marketing medicare advantage and related products aimed at meeting the needs of senior citizens. client mildred jones has expressed interest in a medicare advantage plan. it is now the beginning of september. if you were in agent walker's position, what would you do?

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.