The Graph of a Function F Is Given $\mathrm { f }$

question 214

Multiple Choice

The graph of a function f is given. Use the graph to answer the question.
-Find the numbers, if any, at which f has a local maximum. What are the local maxima?

• A) \(\mathrm { f }\) has a local maximum at \(\mathrm { x } = - \pi\) and \(\pi\); the local maximum is 2
• B) f has no local maximum
• C) \(f\) has a local maximum at \(x = 0\); the local maximum is \(- 2\)
• D) \(f\) has a local maximum at \(- \pi\); the local maximum is 2

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Definitions:

Price Floor

A government- or group-imposed limit on how low a price can be charged for a product, intended to prevent prices from dropping too low.

Shortage/Surplus

A market condition: shortage occurs when demand exceeds supply, and surplus happens when supply exceeds demand.

Price Ceiling

A government-imposed limit on how high a price can be charged for a product, service, or resource.

Market Equilibrium

Market equilibrium is a condition where the quantity of a product supplied is equal to the quantity demanded, leading to a stable market price for the product.