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The availability of a single bubble-droplet system is derived from energy conservation and the principle of entropy. The equilibrium and critical conditions are determined by minimizing the availability without any assumption on the volume of the bubble-droplet system. It is found that the compressibility effect of the liquid-gas solution can be neglected in such a small bubble-droplet system and dilute solution condition. The results of the present analyses confirm previous conclusions reached by Cha that a bubble can remain in a state of stable equilibrium provided that the ratio of the total number of moles of gas to the total number of moles of the liquid is not extremely small and the external pressure falls between a dissolution limit and a cavitation limit.