Competitive equilibrium ◆ An allocation a=(x1…xy1……y)isa combine of consumption vector x and production vector y. A is feasible if ∑ x1≤O,+ ∑y, for any l=1,…L I×J×LCompetitive equilibrium An allocation A= (x1 ,…xI ;y1……yJ ) is a combine of consumption vector x and production vector y. A is feasible if 1 1 , for any 1, I J li l lj i j x y l L  = =    + = I J L  