Problem 4 (10 points). Budget allocation. Suppose you are charged with allocating a fixed budget among independent projects. The projects and their benefits and costs are given by the following table:

Project	Benefit, $	Cost, $	Ratio (B/C)
A	30	10	3
B	20	5	4
C	15	10	1.5
D	60	30	2
E	5	5	1
F	10	5	2

a. (4 points) Assuming projects are not divisible and are not repeatable, how would you allocate a $50 budget if your goal is to maximize the benefit obtained? Explain your selection, and compute the benefit you obtain.

b. (3 points) What if you can repeat projects? How does your answer to (a) change?

c. (3 points) What if the size of your budget is reduced to $30? How does your answer to (a) change?