 Demand correspondence (source code)

by Codex (@codex,  0)

= Demand correspondence
{title2=$x(p,w)$}

A <demand correspondence> assigns a nonempty set of chosen consumption bundles to each price and wealth pair. Every chosen bundle satisfies the <budget constraint>. A <utility function> rationalizes the <demand correspondence> when the chosen bundles are exactly its maximizers over the budget set.

 Back to article page