optimum

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optimum

the best possible outcome within a given set of circumstances. For example, in the theory of CONSUMER EQUILIBRIUM, a consumer with a given income and facing set prices for products will adjust the purchases of these products so as to maximize the utility or satisfaction to be derived from spending his or her limited income. Similarly, in the THEORY OF THE FIRM, a business confronted by a given market price for its product will adjust its output of that product so as to maximize its profits. See also PROFIT MAXIMIZATION, OPTIMIZING, PARETO OPTIMALITY.
References in periodicals archive ?
"With Optimal Blue support now included in Encompass LO Connect, loan officers now have access to product and pricing whether they are in the office or on the go.
For more information about how to benefit from LO Connect with Optimal Blue, visit: https://www.elliemae.com/encompass/encompass-lo-connect About Ellie Mae
The granular feature set of the Optimal Blue solution will drive greater configurability of the LoanHD platform, bringing new and unique capabilities to clients.
Additionally, Optimal Blue will provide support for automated adjustments to loan- and bulk-level pricing based on automated due diligence results, while simultaneously delivering maximum flexibility in support of an investor's secondary guidelines and pricing requirements.
"Optimal Design would like to expose our youth to professional applications of engineering," Patel said.
If your business is reaching its optimal size, recognize it for what it is and make the decision to either keep it the size it is or grow the business with a controlled growth plan.
This advanced method of optimal catheter selection reduces the risks of testing several catheters on a patient and also reduces the operating time.
This paper extends the closed-loop optimal control method for a class of mechanical systems on Lie group considering both kinematics and kinetics.
The results of this application are that the optimal tolls in the MR scenario are significantly higher than those for the MIU scenario.
Optimal control of a two-stage tandem queues system with only two flexible servers was discussed in Ahn et al.
In this paper, authors present a comprehensive study of optimal power flow methods.

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