b) Assume a two-producer-consumer world with Susan (S) and Tom (T), consuming vegetables (V) and meat (M). The production function is V2 + M = 20 000. Their respective utility function are given as US (V,M) =V3/2 + M3/2 and UT (V,M) = v1/2 + M/2 i) Find the optimal amount efficiently produced and consumed by each individual if willingness to pay of Susan: Tom is 1:2 [8 marks] ii) Using the optimal amounts of vegetables and meat produced for this economy, find the value of the slope of the PPC and the point of exchange efficiency between Tom and Susan [4 marks] iii) On the basis of slope of the PPC and two consumer MRS, is there overall efficiency? If your answer is yes, justify your reasoning. If your answer is no, state what must be done to restore efficiency in the product mix, justifying your reasoning. iv) Draw a fully and well-labelled diagram portraying your answers [4 marks]