Frank Owns a Dog-Grooming Business

Multiple Choice

Frank owns a dog-grooming business. Which of the following costs would be implicit costs? (i)
Dog shampoo
(ii)
Rent on the storefront
(iii)
Wages Frank could earn as a substitute elementary-school teacher
(iv)
Interest that Frank's money was earning before he spent his savings to set up the dog-grooming business

A) (i) and (ii) only
B) (iv) only
C) (iii) and (iv) only
D) (i) , (ii) , (iii) , and (iv)