Show that free disposal (example 1.12) implies that the production possibility set has a nonempty interior.

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Foundations of Mathematical Economics

ISBN: 978-0262531924

1st edition

Authors: Michael Carter

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Question Posted: May 02, 2016 11:34 AM

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Show that free disposal (example 1.12) implies that the production possibility set has a nonempty interior.

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Let y 0 For any 0 let y y be the prod...View the full answer

Foundations of Mathematical Economics

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