ECONOMICS

Detailed explanation-1: -Examples of fixed costs are rent and lease costs, salaries, utility bills, insurance, and loan repayments.

Detailed explanation-2: -Fixed costs can include property taxes, rent, salaries and the cost of benefits for non-sales and management personnel. They are one of three types of costs incurred by most businesses.

Detailed explanation-3: -In summary, the price of a factor, whose supply is fixed in the long run, is called rent. The price of a factor, which is in fixed supply only in the short run, is called quasi-rent. Rent persists in the long run, whereas quasi-rent disappears in the long run as the factor becomes variable.

Detailed explanation-4: -Some examples of fixed expenses include: Mortgage or rent payments.