Feasibility condition

Feasibility condition

The feasibility condition, along with the tangency condition, is used in microeconomics to solve the consumer choice problem and obtain the demand function. It is formed by taking the equality of the budget line. The general form of the feasibility condition for two (dimensions of) goods is as follows:

x * px + y * py = I

where x and y are the quantities of the two goods, px and py are their respective prices, and I is the income of the consumer.


Wikimedia Foundation. 2010.

Игры ⚽ Нужно сделать НИР?

Look at other dictionaries:

  • remedial investigation/feasibility study — (RI/FS) USA A process that occurs at a Superfund site before remediation begins. The remedial investigation (RI) is a method of collecting data that helps determine the: • Affected site s condition. • Nature of the hazard …   Law dictionary

  • Enhanced Interior Gateway Routing Protocol — (EIGRP) is a Cisco proprietary routing protocol loosely based on their original IGRP. EIGRP is an advanced distance vector routing protocol, with optimizations to minimize both the routing instability incurred after topology changes, as well as… …   Wikipedia

  • Diffusing update algorithm — DUAL, the Diffusing Update ALgorithm, is the algorithm used by Cisco s EIGRP routing protocol to ensure that a given route is recalculated globally whenever it might cause a routing loop. According to Cisco, the full name of the algorithm is DUAL …   Wikipedia

  • Colossal carbon tube — Colossal carbon tubes (CCTs) are a tubular form of carbon. In contrast to the carbon nanotubes (CNTs), colossal carbon tubes have much larger diameters ranging between 40 and 100 μm. Their walls have a corrugated structure with abundant pores, as …   Wikipedia

  • Demand curve — An example of a demand curve shifting In economics, the demand curve is the graph depicting the relationship between the price of a certain commodity, and the amount of it that consumers are willing and able to purchase at that given price. It is …   Wikipedia

  • Wealden Line — Taking its name from its route through the chalk hills of the North and South Downs of the Weald, England, the Wealden Line [http://www.wealdenlink.org.uk/ Wealden Link Website] is a partly abandoned double track railway line in East Sussex and… …   Wikipedia

  • Needs assessment — is a systematic process for determining and addressing needs, or gaps between current conditions and desired conditions or wants . The discrepancy between the current condition and wanted condition must be measured to appropriately identify the… …   Wikipedia

  • environment — environmental, adj. environmentally, adv. /en vuy reuhn meuhnt, vuy euhrn /, n. 1. the aggregate of surrounding things, conditions, or influences; surroundings; milieu. 2. Ecol. the air, water, minerals, organisms, and all other external factors… …   Universalium

  • Bargaining problem — The two person bargaining problem is a problem of understanding how two agents should cooperate when non cooperation leads to Pareto inefficient results. It is in essence an equilibrium selection problem; Many games have multiple equilibria with… …   Wikipedia

  • Water Resources Development Act of 1986 — The Water Resources Development Act of 1986 (WRDA 1986) is part of USPL|99|662, a series of acts enacted by Congress of the United States on November 17, 1986. [ [http://thomas.loc.gov/cgi bin/bdquery/D?d099:1:./temp/ bdVNjS:@@@D summ2=m… …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”