Explain, including the use of appropriate diagrams, the following situations.

a) Sushi Smith is producing and selling sushi, but is reporting zero economic profit.

b) The university declares that one dollar from every Bento box sold must go to ANUSA. Sushi Smith starts to report negative economic profit, but remains in business.

c) Workers at Sushi Smith agree to a small pay cut to help ensure the company stays open. Explain how a cut in wages might improve the company's position.