Determine Whether There Is a Maximum or Minimum Value for the Given

question 88

Multiple Choice

Determine whether there is a maximum or minimum value for the given function, and find that value.
- $$f ( x ) = \frac { 1 } { 2 } x ^ { 2 } - 2 x - \frac { 15 } { 2 }$$

• A) Minimum: \(- \frac { 19 } { 2 }\)
• B) Maximum: 0
• C) Minimum: \(- \frac { 3 } { 2 }\)
• D) Maximum: - 9

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Definitions:

Duopoly

A market structure dominated by two companies, resulting in limited competition.

Demand Curve

A chart depicting how the price of an item correlates with the amount of that item consumers are ready and capable of buying at different price levels.

Marginal Cost

The extra cost involved in producing one more unit of a product or service.

Cartel

An association of independent companies or organizations formed to control production, pricing, and marketing of goods to suppress competition.