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The Following Figure Shows an Individual's Total Cost of Renting

Question 28

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The following figure shows an individual's total cost of renting four apartments located at different distances from her place of work.
The following figure shows an individual's total cost of renting four apartments located at different distances from her place of work.    -Refer to the figure above.Other things remaining the same,assume that the individual now has a higher opportunity cost of time.Which of the following statements is true in this context? A)  The cost curve will move up. B)  The cost curve will move down. C)  Optimization using total value will not lead to an efficient outcome. D)  Optimization using marginal analysis will not lead to an efficient outcome.
-Refer to the figure above.Other things remaining the same,assume that the individual now has a higher opportunity cost of time.Which of the following statements is true in this context?


A) The cost curve will move up.
B) The cost curve will move down.
C) Optimization using total value will not lead to an efficient outcome.
D) Optimization using marginal analysis will not lead to an efficient outcome.

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