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The Grades in microeconomics depends on the number of hours a student studies and number of problems a student able to solve. Two of my old students Zubda and Warisha had the following grade production functions. = 2.5 0.36 0.64 , = 2.5 0.25 0.85 The both have same teaching contact hours 2.5 with me. Where H is student's study hours and P is number of problems solved.
a. What is marginal product of study hours and number of problems solved in case of Zubda and Warisha.
b. Compare the marginal rate of technical substitution of Zubda and Warisha between study hours and number of problems solved.
c. Calculate and compare the elasticity of substitutions.
d. Show and comment regarding the laws of grade (returns) they are facing.
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