Model-based systems engineering (MBSE) is one of the leading methods used by systems analysts to develop information systems. Cameo Systems Modeler is one of the leading tools supporting MBSE. Research magazine articles and the web to learn more about this tool’s capabilities. Identify three of its strengths in terms of improving the quality of the finished product.

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.