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Statements

Subject Item
dbr:Feasibility_condition
rdfs:label
Feasibility condition
rdfs:comment
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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dbc:Consumer_theory
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3947712
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1085759890
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dbr:Microeconomics dbr:Economics dbr:Tangent dbc:Consumer_theory dbr:Demand_function dbr:Consumer_choice
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dbo:abstract
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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wikipedia-en:Feasibility_condition