Question: Part III. (5 points) Factor-Factor Decision Making. Using the following information, answer the questions. Given: y : 100 TFC : $50 PX] : $5 Py

Part III. (5 points) Factor-Factor Decision Making. Using the following information,

Part III. (5 points) Factor-Factor Decision Making. Using the following information, answer the questions. Given: y : 100 TFC : $50 PX] : $5 Py : $3 PK; 2 $2 Labor Water x, x; MRlex, 3 9 5 6 8 4 12 3 1. Calculate the MRSXIXZ and insert above. 2. What is the price ratio that should be used to determine cost minimization combination? 3. What is the least cost combination of inputs? 4. What is the total cost of producing 100 units ofoutput? 5. How much prot was made

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