Jake is a corn farmer in Nebraska.He rents his land on a long-term lease for $250,000 a year.He pays his farm hands $128,000 a year.Is his rent a fixed cost or a variable cost? Are the wages he pays his workers a fixed cost or a variable cost? Briefly explain your answers.

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The Answer of Jake is a corn farmer in Nebraska.He rents his land on a long-term lease for $250,000 a year.He pays his farm hands $128,000 a year.Is his rent a fixed cost or a variable cost? Are the wages he pays his workers a fixed cost or a variable cost? Briefly explain your answers.

Jake Is a Corn Farmer in Nebraska