John moved his office from a building he was renting downtown to the carriage house he owns in back of his house. How will his costs change?
a. explicit and implicit costs rise
b. explicit costs rise; implicit costs fall
c. explicit and implicit costs fall
d. explicit costs fall; implicit costs rise
e. not enough information is given
D
Economics
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Only two states do not have state personal income taxes
a. True b. False
Economics
A movement downward toward the right along a typical production possibilities curve represents
a. decreasing production of both goods under consideration. b. increasing production of both goods under consideration. c. increasing production of one good and decreasing production of the other. d. increasing production of one good with no change in production of the other.
Economics