At the end of the previous post, I discussed how a bowed-out [1] production possibilities frontier (PPF) could arise from essentially Brownian motion -- and I mentioned that I'd do a simulation to demonstrate that idea.
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Production possibilities and Brownian motion
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At the end of the previous post, I discussed how a bowed-out [1] production possibilities frontier (PPF) could arise from essentially Brownian motion -- and I mentioned that I'd do a simulation to demonstrate that idea.