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1. Consider the production possibilities set 10 pts ab Y = ) (y1, y2) : 92 5 y1 - a . where a and b

1. Consider the production possibilities set 10 pts ab Y = ) (y1, y2) : 92 5 y1 - a . where a and b are positive constants. (a) Draw the graph of Y. 3 pts (b) Show whether or not Y is closed, convex, and satisfies free disposal. 3 pts

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