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The production possibilities frontier (PPF) for guns versus butter. Points like X that are outside the PPF are impossible to achieve. Points such as B, C, and D illustrate the trade-off between guns and butter: at these levels of production, producing more of one requires producing less of the other. Points located along the PPF curve represent ...
In the context of a PPF, opportunity cost is directly related to the shape of the curve (see below). If the shape of the PPF curve is a straight-line, the opportunity cost is constant as the production of different goods is changing. But, opportunity cost usually will vary depending on the start and end points.
For most goods the marginal rate of substitution is not constant so their indifference curves are curved. The curves are convex to the origin, describing the negative substitution effect . As price rises for a fixed money income, the consumer seeks the less expensive substitute at a lower indifference curve.
The offer curve is derived from the country's PPF. We describe a Country named K which enjoys both goods Y and X. It is slightly better at producing good X, but wants to consume both goods. It wants to consume at point C or higher (above the PPF). Country K starts in Autarky at point C. At point C, country K can produce (and consume) 3 Y for 5 X.
Paint protection films use by the military has continued to the present day and 3M now makes a wide variety of aerospace and military films. [3] With time, however, the automobile industry began to take note of the protective benefits of PPF and it was soon being employed by race car drivers despite the difficulty of working with the original films.
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It is problematic to discuss the proposed rate of change (or lack thereof) of a single dimensional physical constant in isolation. The reason for this is that the choice of a system of units may arbitrarily select any physical constant as its basis, making the question of which constant is undergoing change an artefact of the choice of units ...
As bow shocks occur for high flow deflection angles, they are often seen forming around blunt bodies, because of the high deflection angle that the body impose to the flow around it. The thermodynamic transformation across a bow shock is non-isentropic and the shock decreases the flow velocity from supersonic velocity upstream to subsonic ...