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(a) Find the relative maximum and minimum of the function fix)
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The demand equation for a manufacturer's product is = ( a If the price per unit is $2, how many units will produce?
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b ) Determine the point of elastidty of demand when p = 2. Is demand elastic Inelastic, or does it have unit
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if the price ( when
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Answered Same DayDec 21, 2021

Answer To: ...dilly-. 4 • It • . I I (a) Find the relative maximum and minimum of the function fix) ftxL. Find...

David answered on Dec 21 2021

120 Votes

7.a) f(x) = ln(x2+x+1)
Using chain rule, we get;
f’(x) = 1/(x2+x+1)*(2x+1) = (2x+1)/(x2+x+1)
For maxima/minima, f’(x) = 0
So, (2x+1) = 0
 2x = -1
 x = -1/2
f’’(x) = 2/(x2 + x + 1) - (2x + 1)2/(x2 + x + 1)2
f’’(-1/2) = 2.667
As f’’(-1/2) is positive, there is a relative minima at this point. There is no relative maxima.
7.b) The value of x =-1/2 is the absolute minima. Absolute...

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...dilly-. 4 • It • . I I (a) Find the relative maximum and minimum of the function fix) ftxL. Find the absolute maximum and minimum values of the given tv -,..a‘veroweiaor -1.1¦¦¦%seesub,,,4„asatas...

Answer To: ...dilly-. 4 • It • . I I (a) Find the relative maximum and minimum of the function fix) ftxL. Find...

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