A furniture manufacturing business requires both machines and labor to produce finished products. The businesscurrently produces 100 pieces of furniture per time period, as shown in the following graph.Machines302010CAORTS = -2ORTS = 1O RTS=-1ORTS = 28TC₁10TC₂Refer to Figure 8-1. Assuming the business is producing 100 pieces of furniture using the cost-minimizing inputcombination, what is the RTS of workers for machines?20Workers9₁=100TC₂30

Microeconomic firm theory focuses on firms' profit-maximizing production, resource allocation, and…

A furniture manufacturing business requires both machines and labor to produce finished products. The business currently produces 100 pieces of furniture per time period, as shown in the following graph. Machines 30 20 10 ORTS = -2 ORTS=-1 O RTS = 1 8 ORTS=2 TC₁ 10 TC₂ Refer to Figure 8-1. Assuming the business is producing 100 pieces of furniture using the cost-minimizing input combination, what is the RTS of workers for machines? 20 Workers 91-100 TC3 30