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Global optimum |
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Global optimumAn allocation that is better, by some criterion, than all others possible; optimum optimorum.Similar MatchesLocal optimumLocal optimumAn allocation that by some criterion is better than all those in its neighborhood. Optimum optimorumOptimum optimorumThe best of the best, or the global optimum. This term is used, when there are several allocations each of which is locally optimal, to refer to the best among these. Optimum Leverage RatioOptimum Leverage RatioThe borrowing level that maximizes the value of the firm. The cost of capital to the firm is minimized at that same level. OptimumOptimumThe best. Usually refers to a most preferred choice by consumers subject to a budget constraint, a profit maximizing choice by firms or industry subject to a technological constraint, or in general equilibrium, a complete allocation of factors and goods that in some sense maximizes welfare. Optimum capacityOptimum capacityThe amount of manufacturing output that creates the lowest cost per unit. |
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