Why is there an option to declare a Swift Package's product dynamic or static?

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In a Swift package's manifest you declare products. For those products you can define their types. One option is static, another is dynamic, or you could leave it blank and the Swift Package Manager will automatically choose the type based on the client's preferences.

Why would I choose to make a vended library static over dynamic, or vice versa?

And how does that decision affect the consumer of the library if they are an iOS project?

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