Which of the following is true about costs associated with centralizing or decentralizing decision-making authority?

a. Centralized authority has monitoring costs while decentralized authority has agency costs

.b. Centralized authority has agency costs while decentralized authority has costs associated with adequately compensating agents for risk.

c. Centralized authority has costs associated with transferring information from agents while decentralized authority has costs associated with incentive schemes.

d. Centralized authority has costs associated with incentive schemes while decentralized authority has monitoring costs.