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In macroeconomics, the guns versus butter model is an example of a simple production–possibility frontier. It demonstrates the relationship between a nation's investment in defense and civilian goods. The "guns or butter" model is used generally as a simplification of national spending as a part of GDP. This may be seen as an analogy for ...
If, for example, the (absolute) slope at point BB in the diagram is equal to 2, to produce one more packet of butter, the production of 2 guns must be sacrificed. If at AA , the marginal opportunity cost of butter in terms of guns is equal to 0.25, the sacrifice of one gun could produce four packets of butter, and the opportunity cost of guns ...
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Fig. 9 shows Octavio's offer curve as dark blue and Abby's as brown. They meet at the point ω ' and the equilibrium budget line (drawn in grey) is the one passing through this point. The indifference curves through ω ' for the two consumers are shown in paler colours. An offer curve necessarily passes through the endowment point ω.
It is an extension of the idea of a rectifiable curve to higher dimensions; loosely speaking, a rectifiable set is a rigorous formulation of a piece-wise smooth set. As such, it has many of the desirable properties of smooth manifolds , including tangent spaces that are defined almost everywhere .
Test takers cannot "fail" a norm-referenced test, as each test taker receives a score that compares the individual to others that have taken the test, usually given by a percentile. This is useful when there is a wide range of acceptable scores, and the goal is to find out who performs better.
Consider Figure 5 for example. In this case the gun angle as a function of target's range and the target's relative elevation is represented by the thickness of the cam at a given axial distance and angle. A gun direction officer would input the target range and relative elevation using dials. The pin height then represents the required gun angle.