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The optimal stimulation level (OSL) is the amount of stimulation individuals seek in life. [1] In theories which consider human actions will be affected by motivational tendencies, the concept that for achieving a favorable stimulation level, social practices stimulated by pure desire plays a significant role.
Consequently, the societally optimal firm size is OQ 2, where long-run average cost is at its lowest level. The socially optimal firm size is the size for a company in a given industry at a given time which results in the lowest production costs per unit of output.
The optimal output, shown in the graph as , is the level of output at which marginal cost equals marginal revenue. The price that induces that quantity of output is the height of the demand curve at that quantity (denoted ).
skill level of the performer; task complexity; task environment; Importantly, though increases in task difficulty may increase learning potential, increased task difficulty is also expected to decrease performance. Thus, an optimal challenge point exists when learning is maximized and detriment to performance in practice is minimized.
The definition of local minimum point can also proceed similarly. In both the global and local cases, the concept of a strict extremum can be defined. For example, x ∗ is a strict global maximum point if for all x in X with x ≠ x ∗ , we have f ( x ∗ ) > f ( x ) , and x ∗ is a strict local maximum point if there exists some ε > 0 such ...
The efficient level of capital income tax in the steady state has been studied in the context of a general equilibrium model and Judd (1985) has shown that the optimal tax rate is zero. [6] However, Chamley (1986) says that in reaching the steady state (in the short run) a high capital income tax is an efficient revenue source. [7]
Researchers have found that different tasks require different levels of arousal for optimal performance. For example, difficult or intellectually demanding tasks may require a lower level of arousal (to facilitate concentration), whereas tasks demanding stamina or persistence may be performed better with higher levels of arousal (to increase motivation).
It compares a firm's price of output with its associated marginal cost where marginal cost pricing is the "socially optimal level" achieved in market with perfect competition. [41] Lerner (1934) believes that market power is the monopoly manufacturers' ability to raise prices above their marginal cost. [42]