Usually means: Objective function to be maximized.
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We found 4 dictionaries that define the word maximand:

General (2 matching dictionaries)
  1. maximand: Oxford Learner's Dictionaries
  2. maximand: Wiktionary

Business (1 matching dictionary)
  1. maximand: Glossary of research economics

Science (1 matching dictionary)
  1. Mathematical Programming (No longer online)

Definitions from Wiktionary (maximand)

noun:  That which is to be maximized.

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