Global optimum

 

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Global optimum

An allocation that is better, by some criterion, than all others possible; optimum optimorum.



Similar Matches

Optimum

Optimum

The 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 Leverage Ratio

Optimum Leverage Ratio

The borrowing level that maximizes the value of the firm. The cost of capital to the firm is minimized at that same level.


Optimum capacity

Optimum capacity

The amount of manufacturing output that creates the lowest cost per unit.


Optimum optimorum

Optimum optimorum

The 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.


Local optimum

Local optimum

An allocation that by some criterion is better than all those in its neighborhood.




 
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