Question: 3b.A company is planning its production by considering two different inputs for production, X and Y, which yield the marginal benefit as given in the

3b.A company is planning its production by considering two different inputs for production, X and Y, which yield the

marginal benefit as given in the Table below:Given X = $2 and Y = $10 per unit.

Level of InputMBxMBy MBx/PxMBy/Py

000

130100

22490

31880

41270

5860

6650

a.Calculate MBx/Px and MBy/Py.

b.If the firm has a budget to purchase X and Y of within $26. How many X and Y inputs should the firm use to maximize the benefit in the use of the input?

c.If the budget increase to $58, how many X and Y inputs should the firm use to maximize the benefit in the use of the input?

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