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AGB 212 Final Exam QUESTION #4 (25 pts) You are planning to start a business in producing gluten-free cookies, and your formula allows you to make them with various levels of oats and buckwheat. The table below provides the formulas that allow you to make 1,000 packages of cookies per week At this stage, the price of oats is $2 per pound and the price of buckwheat is $1.20. Please answer the following questions, referring to the information in this MRTS NIPR X1 - Pounds of Buckwheat X2- Pounds of Oats 1600 1720 -1.4 1650 1650 1600 1700 -1 1560 1750 0.8 1530 1800 -0.6 1510 1850 -0.4 1500 1900 -0.2 1495 1950 -1.4 What does NIPR stand for? What is it's equation? What does it represent? b. Calculate the NIPR for the current situation. c. Given the current prices, what combination of oats and buckwheat should you use? d. At the current prices, what is your TVC of production using this combination? e. How would your input decisions change if the price of buckwheat increased to $2, and the price of oats stayed the same