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?

Question

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?

Quizplus · Accepted Answer

The Answer of 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?

Use the Following Graph to Answer the Following Questions