Caramon13
Pattern Altitude
From Lycoming:
For a given power setting, best economy mixture provides the most miles per gallon. Slowly lean the mixture until engine operation becomes rough or until engine power rapidly diminishes as noted by an undesirable decrease in airspeed. When either condition occurs, enrich the mixture sufficiently to obtain an evenly firing engine or to regain most of the lost airspeed or engine RPM. Some engine power and airspeed must be sacrificed to gain a best economy mixture setting
Reference here.
For a given power setting, best economy mixture provides the most miles per gallon. Slowly lean the mixture until engine operation becomes rough or until engine power rapidly diminishes as noted by an undesirable decrease in airspeed. When either condition occurs, enrich the mixture sufficiently to obtain an evenly firing engine or to regain most of the lost airspeed or engine RPM. Some engine power and airspeed must be sacrificed to gain a best economy mixture setting
Reference here.