What is the main goal in creating the federal budget? managing businesses and increasing spending on all programs
deciding how to manage the government’s tax revenue and expenditures
finding a way to allow the economy to run on its own
finding a way to slow down rapid economic growth

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.