A company isissuing bonds to fund anexpansion, which will cost $1 million. The company plans to issue bonds with a par value of $1,000, a coupon rate of 6% with semiannual payments, and a maturity of 10 years. The company expects that investors who buy the bonds todemand a yield to maturity of 8%. How many bonds will the company have to issue in order to raise the necessary $1 million

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.