When a firm is earning zero economic profits
A) accounting profit is zero.
B) total revenue is greater than total cost.
C) P = ATC.
D) P is greater than ATC.
C
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The basic transfer is defined as
(a) net capital inflow. (b) interest payments on foreign debt. (c) net capital inflow divided by interest payments on foreign debt. (d) net capital inflow minus interest payments on foreign debt.
Shaina and Mariah have a business that provides personal fitness training services. They know that after raising their prices from $50 to $75 per hour, the quantity of hours they spent delivering training services fell from 90 to 80 hours per week. The demand for their services is:
a. inelastic, with a price elasticity coefficient greater than one. b. inelastic, with a price elasticity coefficient less than one. c. elastic, with a price elasticity coefficient greater than one. d. elastic, with a price elasticity coefficient less than one.