Q. Which of the following is a fixed cost for a firm?
Answer: Land
Notes: Fixed cost is the Expenditure on hiring/purchasing of fixed inputs which is land. Whereas labor is variable cost as the input is variable with time. The other costs available are Explicit and Implicit cost.

This question is part of 40000+ MCQs GKToday PCS Mock Tests Series in GKToday Android app. Question Number: 42 in GKToday PCS Mock Test - 95 in above course in App.