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(Solution) - Let Y be the production possibility set for a single output

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Let Y be the production possibility set for a single-output technology and V(y) denote the corresponding input requirements sets
V(y) = {x ? ?n+: (y, - x) ? Y}
Then Y is convex if and only if V(y) is a convex correspondence.

 







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This question was answered on: Jul 11, 2017

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