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-minimizing point A,B,or C?
b.If the wage rate is $40,the rental price of equipment is $120,and total cost is $1,200,is the cost-minimizing point A,B,or C?
c.If the wage rate is $60,the rental price of equipment is $90,and total cost is $1,800,is the cost-minimizing point A,B,or C?
Definitions:
Current Liabilities
Short-term financial obligations that a company is expected to pay within one year.
Six Months
is a period of time equal to half a year, often used in financial and operational planning.
Asset Account
An account on a company's balance sheet that represents a resource controlled by the company from which future economic benefits are expected.
Debit Balance
Refers to the balance remaining on an account when the total of debits exceeds the total of credits, typically indicating expenses or assets.
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