Question: It is intermediate microeconomics 1 Production sets For each part, sketch a production set for a 1input, loutput technology satisfying all of the listed properties:

It is intermediate microeconomics

1 Production sets For each part, sketch a production set for a 1input, loutput technology satisfying all of the listed properties: 1. Increasing returns to scale, allows free disposal and shutdown. 2. Neither increasing nor decreasing returns to scale. 3. Convex, allows free disposal but not shutdown. 4. Allows a free lunch but not free disposal

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