Feasibility condition
id:
feasibility-condition-286-4204514
title:
Feasibility condition
text:
Within economics, the feasibility condition, along with the tangency condition, is used in microeconomics to solve the consumer choice problem and obtain the demand function. The condition states that total spending on all goods cannot exceed available income. The general form of the feasibility condition for two goods is as follows: where x and y are the quantities consumed of the two goods, px and py are their respective prices, and I is the income of the consumer.
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wiki
category slug:
encyclopedia
description:
original url:
https://en.wikipedia.org/wiki/Feasibility_condition
date created:
date modified:
2022-05-02T08:20:33Z
main entity:
{"identifier":"Q5439524","url":"https://www.wikidata.org/entity/Q5439524"}
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fields total:
13
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13