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Q: Which of the following is NOT a variable cost for a firm?
  • A. Property taxes
  • B. Packing
  • C. Commissions
  • D. Labour
Correct Answer: Option A - Property taxes is not a variable cost for a firm, it is fixed cost, Variable costs refer to costs incurred on inputs, which are exhausted during the use in the production process eg. Cost of fertilizers, seeds, daily wage labour, packing, commissions, seeds etc.
A. Property taxes is not a variable cost for a firm, it is fixed cost, Variable costs refer to costs incurred on inputs, which are exhausted during the use in the production process eg. Cost of fertilizers, seeds, daily wage labour, packing, commissions, seeds etc.

Explanations:

Property taxes is not a variable cost for a firm, it is fixed cost, Variable costs refer to costs incurred on inputs, which are exhausted during the use in the production process eg. Cost of fertilizers, seeds, daily wage labour, packing, commissions, seeds etc.