Question

Any cost that remains unchanged as output changes represents a​ firm's A. opportunity cost. B. fixed cost. C. marginal cost. D. variable cost. Any cost that changes as output changes represents a​ firm's A. variable cost. B. fixed cost. C. overhead cost. D. sunk cost. Which of the following is most likely to be a fixed cost for a​ farmer

Answer 1

Answer:1. Fixed Cost

...2. Variable cost

3. Farmland.

Explanation:

Fixed cost remains fixed no matter the change in output eg cost of building, whereas a variable cost change as the level of output increase e.g raw material cost.

The land is example of fixed cost to a famer which does not vary with the level of output.