In the long run, a perfectly competitive firm earn _______ economic profits

Suppose a family from Peru eats in a restaurant in Salt Lake City, Utah. How will this transaction be recorded in U.S. international transactions?

A. It is recorded in the current account as a positive (plus) item. B. It is recorded in the current account as a negative (minus) item. C. It is recorded in the capital account as a positive item. D. It is recorded in the current account as a negative item.

Assume two firms have the same total costs of production. Firm A's average variable cost if $5 per unit and firm B's average variable cost is $7 . Both firms have an average total cost of $8

If the current market price is $6 and remains unchanged what action will both firms take in the short run and the long run?