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2. Maximal and minimal elements - Wikipedia

   en.wikipedia.org/wiki/Maximal_and_minimal_elements

   The maximum of a subset of a preordered set is an element of which is greater than or equal to any other element of , and the minimum of is again defined dually. In the particular case of a partially ordered set , while there can be at most one maximum and at most one minimum there may be multiple maximal or minimal elements.

3. Maximum and minimum - Wikipedia

   en.wikipedia.org/wiki/Maximum_and_minimum

   The definition of global minimum point also proceeds similarly. If the domain X is a metric space, then f is said to have a local (or relative) maximum point at the point x ∗, if there exists some ε > 0 such that f(x ∗) ≥ f(x) for all x in X within distance ε of x ∗.

4. Mathematical optimization - Wikipedia

   en.wikipedia.org/wiki/Mathematical_optimization

   The satisfiability problem, also called the feasibility problem, is just the problem of finding any feasible solution at all without regard to objective value. This can be regarded as the special case of mathematical optimization where the objective value is the same for every solution, and thus any solution is optimal.

5. Demand factor - Wikipedia

   en.wikipedia.org/wiki/Demand_factor

   In telecommunications, electronics and the electrical power industry, the term demand factor is used to refer to the fractional amount of some quantity being used relative to the maximum amount that could be used by the same system. The demand factor is always less than or equal to one.

6. Profit maximization - Wikipedia

   en.wikipedia.org/wiki/Profit_maximization

   Generally, it is difficult to change the impact of the price according to the demand, because the demand may occur due to many other factors besides the price. The company may also have other goals and considerations. For example, companies may choose to earn less than the maximum profit in pursuit of higher market share. Because price ...

7. Law of demand - Wikipedia

   en.wikipedia.org/wiki/Law_of_demand

   The elasticity of demand refers to the sensitivity of a goods demand as compared to the fluctuation of other economic factors, such as price, income, etc. The law of demand explains that the relationship between Demand and Price is directly inverse. However, the demand for some goods are more receptive to a change in price than others.

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9. Utility maximization problem - Wikipedia

   en.wikipedia.org/wiki/Utility_maximization_problem

   The mathematical first order conditions for a maximum of the consumer problem guarantee that the demand for each good is homogeneous of degree zero jointly in nominal prices and nominal wealth, so there is no money illusion. When the prices of goods change, the optimal consumption of these goods will depend on the substitution and income effects.