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The Problem of Efficiency of the Consumption or Production

Author

Listed:
  • Catalin Angelo Ioan

    (Danubius University of Galati, Romania)

  • Gina Ioan

    (Danubius University of Galati, Romania)

Abstract

The consumption efficiency or production respectively, is of particular importance in the view of Pareto efficiency. The classical analysis for two goods or two factors of production, is based on the Edgeworth’s box that allows determining the optimal quantity, and price equilibrium. The analysis which will follow, will deal this problem for the case of n goods or inputs, obtaining a general method for determining the optimal quantities, namely the equilibrium price using a series of relatively basic geometric tools.

Suggested Citation

  • Catalin Angelo Ioan & Gina Ioan, 2012. "The Problem of Efficiency of the Consumption or Production," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 4(4), pages 117-125, August.
    • Handle: RePEc:dug:actaec:y:2012:i:4:p:117-125
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    File URL: http://journals.univ-danubius.ro/index.php/oeconomica/article/view/1034/1234
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    References listed on IDEAS

    as
    1. Catalin Angelo Ioan, 2015. "A New Approach to Utility Function," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 11(2), pages 194-223, April.
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