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The optimum is the best or most favorable condition, or the greatest amount or degree possible under specific sets of comparable circumstances. Optimum may also refer to: Optimum (cable brand), a digital cable service; Optimum Releasing, a film and DVD distribution company based in the UK
This Optimum customer service facility in Freehold Township, New Jersey, has existed during both the Cablevision and Altice eras. Introduced in 2018 on Long Island and then extended through its service area, Altice One is the company's flagship home entertainment platform, and combines broadband internet access, television, VOIP telephone service, and various streaming applications. [2]
In other words, when every good or service is produced up to the point where one more unit provides a marginal benefit to consumers less than the marginal cost of producing it. Because productive resources are scarce , the resources must be allocated to various industries in just the right amounts, otherwise too much or too little output gets ...
If there is a state change that satisfies this condition, the new state is called a "Pareto improvement". When no Pareto improvements are possible, the state is a "Pareto optimum". In other words, Pareto efficiency is when it is impossible to make one party better off without making another party worse off. [5]
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The term derives from the Latin optimum, meaning "best". To be optimistic, in the typical sense of the word, is to expect the best possible outcome from any given situation. [1] This is usually referred to in psychology as dispositional optimism. It reflects a belief that future conditions will work out for the best. [2]
The choice among "Pareto optimal" solutions to determine the "favorite solution" is delegated to the decision maker. In other words, defining the problem as multi-objective optimization signals that some information is missing: desirable objectives are given but combinations of them are not rated relative to each other.
Multi-objective optimization or Pareto optimization (also known as multi-objective programming, vector optimization, multicriteria optimization, or multiattribute optimization) is an area of multiple-criteria decision making that is concerned with mathematical optimization problems involving more than one objective function to be optimized simultaneously.