1. (20 points) Explain how the producer problem evolved throughout this course. Your answer should include an explanation of the three or four different specifications of the problem itself and brief descriptions of PPFs, cost curves, and revenue functions. You do not need to address the differences between monopoly and perfect competition here (that's problem 2). Feel free to incorporate graphs, drawings, and diagrams relevant to the problem. Use made up prices and production capabilities if you wish, too