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3 December, 18:06

Any cost that remains unchanged as output changes represents a firm's

A. marginal cost.

B. opportunity cost.

C. fixed cost.

D. variable cost.

Any cost that changes as output changes represents a firm's

A. sunk cost.

B. overhead cost.

C. fixed cost.

D. variable cost.

Which of the following is most likely to be a fixed cost for a farmer?

A. wages paid to farm workers

B. cost of fertilizer

C. insurance premiums on property

D. cost of seeds

Which of the following is most likely to a variable cost for a business firm?

A. property taxes

B. rent on the office building

C. interest on long-term outstanding bonds

D. cost of shipping products

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Answers (1)
  1. 3 December, 19:29
    0
    C. fixed cost

    D. variable cost.

    C. insurance premiums on property

    D. cost of shipping products

    Explanation:

    Fixed cost are costs that do not vary with the level of output produced by a firm.

    Variable costs are costs that vary with the level of output produced by a firm.

    Insurance premium paid on property does not vary with the level of output produced on the farm.

    Shipping cost varies with the level of output of the business. If the business has a lot of orders, shipping cost would be higher and vice versa.
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Home » Business » Any cost that remains unchanged as output changes represents a firm's A. marginal cost. B. opportunity cost. C. fixed cost. D. variable cost. Any cost that changes as output changes represents a firm's A. sunk cost. B. overhead cost. C. fixed cost.
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