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Definition of Level set
1. Noun. (analysis) The set of values ''x'' for which a real-valued function ''f''(''x'') is equal to a given constant. ¹
2. Verb. (business) To establish a baseline of mutual understanding ¹
3. Noun. (business) An event consisting of level setting ¹
4. Noun. (business) A state of mutual understanding among parties ¹
¹ Source: wiktionary.com