Output maximization: meaning, definitions and examples
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output maximization
[ ˈaʊtpʊt ˌmæksɪməˈzeɪʃən ]
business
The process of increasing the efficiency and productivity of a system or organization to achieve the highest possible output.
Synonyms
efficiency optimization, productivity enhancement
Examples of usage
- Output maximization is a key goal for many businesses looking to increase profits.
- Implementing new technologies can help with output maximization.
- Managers are constantly looking for ways to improve output maximization in their departments.
economics
A strategy in microeconomics where a firm aims to produce at the level where its marginal revenue equals its marginal cost, in order to maximize profit.
Synonyms
profit maximization, revenue optimization
Examples of usage
- Output maximization is often studied in the context of perfect competition.
- In the short run, firms may focus on output maximization rather than profit maximization.
- Understanding the concept of output maximization is crucial for firms operating in competitive markets.
Translations
Translations of the word "output maximization" in other languages:
🇵🇹 maximização de saída
🇮🇳 उत्पादन अधिकतमकरण
🇩🇪 Ausgabemaximierung
🇮🇩 maksimalisasi output
🇺🇦 максимізація виходу
🇵🇱 maksymalizacja wydajności
🇯🇵 出力の最大化
🇫🇷 maximisation de la sortie
🇪🇸 maximización de salida
🇹🇷 çıktı maksimizasyonu
🇰🇷 출력 극대화
🇸🇦 تعظيم المخرجات
🇨🇿 maximalizace výstupu
🇸🇰 maximalizácia výstupu
🇨🇳 输出最大化
🇸🇮 maksimizacija izhoda
🇮🇸 hámarka framleiðslu
🇰🇿 шығысты максимизациялау
🇬🇪 Გამოსავლის მაქსიმიზაცია
🇦🇿 çıxışın maksimallaşdırılması
🇲🇽 maximización de salida
Etymology
The concept of output maximization has its roots in the field of economics, where it is a fundamental principle in the analysis of firm behavior. The goal of output maximization is to achieve the highest possible level of output given the resources and constraints faced by the organization. This concept has been studied extensively by economists and business scholars to understand how firms can operate efficiently and competitively in various market conditions.