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In microeconomics, a production–possibility frontier (PPF), production possibility curve (PPC), or production possibility boundary (PPB) is a graphical representation showing all the possible options of output for two that can be produced using all factors of production, where the given resources are fully and efficiently utilized per unit time.
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.
The third type is reverse curve which comprises two or more simple curves that has the opposite direction of curvature (sometime known as "S" curve or serpentine curve). [ 3 ] [ 4 ] In Australia, there is a special definition for a bend (or a horizontal bend ) which is a connection between two tangent tracks at almost 180 degrees (with ...
Basic situation: Two identical countries (A and B) have different initial factor endowments. Autarky equilibrium (,): no trade, individual production equals consumption.. Trade equilibrium: both countries consume the same (=), especially beyond their own Production–possibility frontier; production and consumption points are diverge
A parabola, one of the simplest curves, after (straight) lines. In mathematics, a curve (also called a curved line in older texts) is an object similar to a line, but that does not have to be straight. Intuitively, a curve may be thought of as the trace left by a moving point.
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Lines through a given point P and asymptotic to line R. Non-intersecting lines in hyperbolic geometry also have properties that differ from non-intersecting lines in Euclidean geometry: For any line R and any point P which does not lie on R, in the plane containing line R and point P there are at least two distinct lines through P that do not ...