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The separating variety for the basic representations of the additive group

For a group $G$ acting on an affine variety $X$, the separating variety is the closed subvariety of $X\times X$ encoding which points of $X$ are separated by invariants. We concentrate on the indecomposable rational linear representations $V_n$ of dimension $n+1$ of the additive group of a field of characteristic zero, and decompose the separating variety into the union of irreducible components. We show that if $n$ is odd, divisible by four, or equal to two, the closure of the graph of the action, which has dimension $n+2$, is the only component of the separating variety. In the remaining cases, there is a second irreducible component of dimension $n+1$. We conclude that in these cases, there are no polynomial separating algebras.