Professor smith has been asked by
sally's mom to give an update on how
sally is doing in chemistry class. which
of the following considerations
describes why professor smith can't
discuss how sally is doing in chemistry
class with her.
a. practicality
b. moral
c. legal
d. ethical

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.