You'll need to research and learn more first.
For one thing your 3.0, if factory, is not a SOHC - it's an OHV. I'm not sure what you mean by an air induction system - technically your truck already has one, and it's actually a "cold air" type from the factory.
You can do an engine swap of a 4.0 OHV or 4.0 SOHC relatively easily. There are plenty of other options from the 4.6 SOHC/DOHC to 302 Windsor and even 460 FE, all with various degrees of difficulty. Honestly though if all you want is more power and better fuel economy, get a newer Ranger. Engine swaps are a big hassle and cost a lot of money. That money could be spent on a late model Ranger with a 2.3 DOHC Duratec or any of the more powerful options available.
In regards to your injector question, neither has an effect on efficiency - if you want better gas mileage from your current truck, there's no easy tech solution for that. Improve aerodynamics, reduce weight, use low-drag tires, change axle gearing or shift habits (manual trans), and do a tuneup. That's about it. It's a square truck, not a Geo Metro.