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Leslie and Mohammad can produce a high grade on an upcoming economics final exam by studying hard. Their production function depends on the number of

Leslie and Mohammad can produce a high grade on an upcoming economics final exam by studying hard. Their production function depends on the number of hours spent studying production problem (P) and the number of hours studying risk problems (R). Specifically, Leslie's production function is given by G= 2.5R0.36P0.64 while Mohammad's production function is G= 2.5R0.25P0.75 a. Calculate the marginal rate of technical substitution for both Leslie and Mohammad between studying the two types of problems. Interpret this at the point R=2, P=2. b. Suppose Leslie and Mohammad have 24 hours to study for the next exam. How much time should each spend studying risk problems and studying production problems? Explain why this the optimal amount of time

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