Question

Which of the following are fixed costs for operating your automobile? Insurance Fuel Tires Monthly Payment

Which of the following are fixed costs for operating your automobile?

Insurance

Fuel

Tires

Monthly Payment

Business   Economics   
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Answer #1

Solution:- "Insurance" is correct answer.

Expalaination:-Insurance is the fixed costs for operating your automobile.why because remaning three things are variable costs Fuel,tires,Monthly payments will be changed based on journey distance.Monthly lease payments are usually lower than monthly financing payments.Some fixed costs associated with operating an automobile would be the car note,insurance, and registration. I labeled those as fixed costs because no matter how muchyou tend to drive your automobile, the cost of those 3 monthly payments are likely toremain unchanged. A few variable costs would be gas, maintenance, and upkeep. Thecosts of those three areas would vary based off how much the vehicle is put to use.

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