Use the following graph to answer the following questions. 
a.If the wage rate and the rental price of machines are both $50 and total cost is $800, is the cost-minimising point A, B, or C?
b.If the wage rate is $40, the rental price of equipment is $120, and total cost is $1200, is the cost-minimising point A, B, or C?
c.If the wage rate is $60, the rental price of equipment is $90, and total cost is $1800, is the cost-minimising point A, B, or C?
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Definitions:
Debit
A bookkeeping record that leads to either a rise in assets or a fall in liabilities in a firm's balance sheet.
Note Payable
An official pledge in writing to return a specified sum of cash, often with added interest, on a set future date.
Ledger
A book or digital record where financial transactions are entered, tracking the changes in each account associated with those transactions.
Trial Balance
An accounting report that lists the balances of all general ledger accounts at a particular point in time, used to ensure debits equal credits.
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