Explain the economic impact of the trend shown in Fig. 22.6

EBK HEALTH ECONOMICS AND POLICY
7th Edition
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Author:Henderson
Publisher:Henderson
Chapter4: Economic Evaluation In Health Care
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22.21 Explain the economic impact of the trend shown in
Fig. 22.6.

100
Carbon steel
26
High-speed steel
Cast cobalt-based alloys
15
Cemented carbides
Improved carbide grades
First coated grades
3
1.5
1
0.7
0.5
First double-coated grades
First triple-coated grades
Functionally graded triple-coated
Optimižed material
combinations
1900 1910 1920 1930 1940 1950 1960 1970 1980 1990 2000 2010
FIGURE 22.6 Relative time required to machine with various cutting-tool marerials, indi-
cating the year the tool materials were first introduced; note that machining time has been
reduced by two orders of magnitude within a 100 years. Source: Courtesy of Sandvik.
Machining time (min)
Transcribed Image Text:100 Carbon steel 26 High-speed steel Cast cobalt-based alloys 15 Cemented carbides Improved carbide grades First coated grades 3 1.5 1 0.7 0.5 First double-coated grades First triple-coated grades Functionally graded triple-coated Optimižed material combinations 1900 1910 1920 1930 1940 1950 1960 1970 1980 1990 2000 2010 FIGURE 22.6 Relative time required to machine with various cutting-tool marerials, indi- cating the year the tool materials were first introduced; note that machining time has been reduced by two orders of magnitude within a 100 years. Source: Courtesy of Sandvik. Machining time (min)
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