Assume you are a rangeland manager. You own a ranch with private rangeland that you lease out on a per AUM basis. (AUMs are based on the amount of forage available for livestock to graze). One area of your ranch has a bad weed infestation problem that has affected your forage production. You plan to improve your forage production by using a combination of treating the site with herbicide and seeding desirable forage species. You have a limited budget to invest in your forage improvement project. a. Using terminology from the Factor-Factor model, explain (dont calculate) how you would determine how much of each input you will use to improve forage production. What conditions (in laymens terms) must be met? In your answer, be sure to describe any additional information you would need to know. You may also include any equation you might use to help you determine your production levels. 4 pts b. Now assume the price of herbicide triples from your original estimate. How would this affect the optimal use of seeding and herbicide application? Why (explain in economic terms how this affects your decision)? 3 pts c. You estimate that at the combination of herbicide and seeding, one unit of seeding is 2.5 times as productive at improving forage compared to one unit of herbicide. What can you infer about input prices at this point? (Assuming you are optimizing the problem). 3 pts