George earns $50,000 business profit per year by selling donuts. he pays $12,000 per year in rent to his uncle fred for the building in which his business is located. if his uncle fred gives him the building, then george's a. business profit will be unchanged. b. economic profit will be unchanged. c. implicit cost will decrease by $12,000 per year. d. all of the above are correct.

None of the multiple choices is correct. The correct answer should be: "Business profit will increase by $12,000 per year"

Explanation:

$12,000 per year is the rental rate.

If his Uncle Fred gives him the building, George will not pay the rental fee. Thus, the business profit will increase by $12,000 per year.

If we consider about the economic profit or implicit cost, it will not change.

being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.