1. Suppose it is late in the semester and you have two exams left. You must decide how to allocate your working time during the study period. After eating, sleeping, exercising, and maintaining some human contact, you have 12 hours each day in which to study for your exams. You have figured out that your grade point average GPA, from your two courses, Mathematical Economics and Research Methodology takes the form:
GPA = 2/3 (√(M )+ √2 R)
Where M is the number of hours per day spent studying for Mathematical Economics and R is the number of hours per day spent studying for Research Methodology.
a. What is the optimal number of hours per day spent studying for each cost?
b. If you follow this strategy, what will your GPA be?