If you owned a small farm, which of the following would most likely be a fixed cost?

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Fixed costs are expenses that remain the same regardless of how much is produced, and often include items like insurance, property taxes, and equipment depreciation. Hail insurance would be a fixed cost, as its price would not change based on the amount of crops produced or the amount of labor hired. The other options, harvest labor, fertilizer, and seed, would be considered variable costs since they can change based on the amount of crops produced or the specific needs of the farm.

If You Owned a Small Farm, Which of the Following