Determine the Minimum or Maximum Value of the Function $$k ( x ) = 3 x ^ { 2 } - 4 x$$

question 269

Multiple Choice

Determine the minimum or maximum value of the function.
- $$k ( x ) = 3 x ^ { 2 } - 4 x$$

• A) Minimum: \(\frac { 4 } { 3 }\)
• B) Minimum: \(- \frac { 4 } { 3 }\)
• C) Maximum: \(- \frac { 4 } { 3 }\)
• D) Maximum: \(\frac { 4 } { 3 }\)

Understand the conditions under which firms will enter or exit an industry based on economic profits.

Determine the effects of variable resource additions to fixed resources on production and cost.

Analyze the relationship between total product, marginal product, and average product in the context of production.

Understand the concept of opportunity costs and their relevance in calculating economic profits.

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