Clothing manufacturer Van Heusen produces lines of its apparel specifically targeted to consumers who visit its factory outlet stores. These lines are slightly lower in quality and sell at significantly lower price points. In terms of NPD, these additional product lines are categorized as .

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.