Multiple Choice
John moved his office from a building he was renting downtown to the carriage house he owns behind his house.Which of the following statements shows how his costs change?
A) Both his explicit and implicit costs will rise.
B) His explicit costs will rise, while his implicit costs will fall.
C) Both his explicit and implicit costs will fall.
D) His explicit costs will fall, while his implicit costs will rise.
E) His explicit costs will rise, while his implicit costs will remain the same.
Correct Answer:
Verified
Correct Answer:
Verified
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