What is an optimal decision?
An optimal decision is one that best serves the objectives of the decision maker, whatever those objectives may be. It is selected by explicit or implicit comparison with the possible alternative choices. The term optimal connotes neither approval nor disapproval of the objective itself.
Economics
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If the nominal interest rate is 8 percent and the current inflation rate is 3 percent, approximately what is the real interest rate?
A) 11 percent B) 8 percent C) 5 percent D) 3 percent
Economics
National income equals gross national product minus
A) inventories. B) changes in inventories. C) depreciation. D) imports.
Economics