Find All the Local Maxima, Local Minima, and Saddle Points

question 132

Multiple Choice

Find all the local maxima, local minima, and saddle points of the function.
-f(x, y) = 10xy(x + y) + 4

• A) f(10, 0) = 4, local minimum; f(0, 10) = 4, local minimum
• B) f(0, 0) = 4, test is inconclusive
• C) f(10, 10) = 20,004, local maximum
• D) f(0, 0) = 4, saddle point; f(10, 10) = 20,004, local maximum

Recognize the role of expectations in economics, especially regarding price levels.

Understand the impact of changes in the price level on consumption, investment, and net exports.

Acknowledge the reasons for and effects of economic fluctuations.

Understand how changes in the money supply affect interest rates, investment spending, and aggregate demand.

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Definitions:

Laissez-Faire

A leadership or management style characterized by a minimal amount of direct supervision, allowing individuals or teams considerable freedom in their work.

Transactional Leader

A leadership style focused on the exchange between leader and followers, where compliance is exchanged for specified rewards.

Transformational Leader

A leadership approach that causes change in individuals and social systems, by creating a vision to guide the change through inspiration, and executing the change in tandem with committed members of a group.

Leadership Substitutes Theory

A concept suggesting that certain characteristics of the organization, task, or subordinates themselves can diminish or replace the need for leadership.