Consider the Following Statements When Answering This Question: I

Multiple Choice

Consider the following statements when answering this question: I. In the long-run equilibrium of a perfectly competitive market, a firm's producer surplus equals the sum of the economic rents earned on its inputs to production.
II) In the long-run equilibrium of a perfectly competitive market, the amount of economic profit earned can differ across firms, but not the amount of producer surplus.

A) I and II are true.
B) I is true, and II is false.
C) I is false, and II is true.
D) I and II are false.