Find the Critical Point(s) of the Function

question 49

Multiple Choice

Find the critical point(s) of the function. Then use the second derivative test to classify the nature of each point, if possible. Finally, determine the relative extrema of the function. ​ ​

• A) is the critical point, it is impossible to determine the relative extrema of the function
• B) is the point of minimum, 9 is the relative minimum
• C) is the critical point, the function has neither a relative maximum nor a relative minimum at this point
• D) is the point of maximum, 9 is the relative maximum
• E) no critical points

Calculate budget variances and interpret whether they are favorable or unfavorable.

Analyze financial performance using flexible budget reports.

Apply cost and revenue formulas to generate budget reports.

Understand the impact of activity levels on budgeted and actual expenses and revenues.

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Definitions:

Number of Firms

Refers to the total count of business entities participating in a particular market or industry.

Long-Run Equilibrium

a state in which all factors of production can be adjusted, and all firms in the market are making zero economic profits, reflecting a situation of perfect competition.

Marginal Cost

The change in total cost that arises when the quantity produced is incremented by one unit; essentially, the cost of producing one more unit of a good.