A restaurant sells pizza at a rate of $14.57/slice. Expenses for the restaurant include raw material for pizza at $9.57 per slice, $168.00 as monthly rental and $62.00 monthly as insurance. How many slices should the restaurant sell in a month to break even?

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.