ZNA bank has five branches in Victoria East. Table 1 gives the average number of hours (in hundreds) of staff time used weekly, to manage accounts (in thousands) at the branch.

QUESTION 1 (4 + 4 = 8 marks) ZNA bank has five branches in Victoria East. Table 1 gives the average number of hours (in hundreds) of staff time used weekly, to manage accounts (in thousands) at the branch.~ Branch location Staff time Number of accounts Caulfield 0.50 0.5- Clayton 2 Glen Irise 40 2.5- t Malverne (a) Assume that the bank branches operate under constant returns to scale technology. What is the target output you propose for the third ranked (in terms of relative performance) bank branch to achieve Pareto efficiency while maintaining its current level of input?- (b) Assume that the bank branches operate under variable returns to scale technology. What is the target output you propose for the fourth ranked (in terms of relative performance) bank branch to achieve Pareto efficiency while maintaining its current level of input? Give reasons for your answer. Hint: You can answer these questions without any mathematical formulation and using SOLVER. ~