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The production-possibility frontier can be constructed from the contract curve in an Edgeworth production box diagram of factor intensity. [12] The example used above (which demonstrates increasing opportunity costs, with a curve concave to the origin) is the most common form of PPF. [ 13 ]
When it produces at point B, it can trade with the other country and consume at point S. We now look at our Offer curve and draw a ray at the level 5 Y for 7 X. When full specialization occurs, K then produces at point A, trades and then consumes at point T. The price has reduced to 1 Y for 1 X, and the economy is now at equilibrium.
(This can be obtained by setting F = 0 in their respective PPF equations and summing them up). Here the slope of the joint PPF is −1/2. Here the slope of the joint PPF is −1/2. If we want more fish, we should shift that person who has a comparative advantage in fish hunting (i.e. Friday) out of coconut gathering and into fish hunting.
The reversible reaction N 2 O 4 (g) ⇌ 2NO 2 (g) is endothermic, so the equilibrium position can be shifted by changing the temperature. When heat is added and the temperature increases, the reaction shifts to the right and the flask turns reddish brown due to an increase in NO 2. This demonstrates Le Chatelier's principle: the equilibrium ...
An example PPF: points B, C and D are all productively efficient, but an economy at A would not be, because D involves more production of both goods. Point X cannot be achieved. Productive efficiency occurs under competitive equilibrium at the minimum of average total cost for each good, such as the one shown here.
Productive capacity has a lot in common with a production possibility frontier (PPF) that is an answer to the question what the maximum production capacity of a certain economy is which means using as many economy’s resources to make the output as possible. In a standard PPF graph, two types of goods’ quantities are set.
For a reversible reaction, the equilibrium constant can be measured at a variety of temperatures. This data can be plotted on a graph with ln K eq on the y-axis and 1 / T on the x axis. The data should have a linear relationship, the equation for which can be found by fitting the data using the linear form of the Van 't Hoff equation
In terms of chemical potential, at the boiling point, the liquid and gas phases have the same chemical potential. Adding a nonvolatile solute lowers the solvent’s chemical potential in the liquid phase, but the gas phase remains unaffected. This shifts the equilibrium between phases to a higher temperature, elevating the boiling point.