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Consider the function 4 : R - R given by p(20 ) = In (1 - x) for x > 0. Define the function F : R' - R by F(y1, y2) = y2 - 4(y1) for (y1, y2) IR2. Let Y C R' be the technology with transformation function F. Let y* = (yi, y;) EY be an efficient production plan. Determine a price vector p = (p1, p2) such that y* Ey(p). (Distinguish between the cases y 0.)Step by Step Solution
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