Austrian airlines was sued by a 51-year-old former director of sales who charged that he was dismissed and replaced by an employee age 32 after he objected to older workers being described as "worthless and ineffective." this was an example of age discrimination. a. trueb. false

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.