Find the Relative Maxima and Relative Minima, If Any, of the Function

question 83

Short Answer

Find the relative maxima and relative minima, if any, of the function. Otherwise, answer none.
​ ​
Relative minima: __________
​
Relative maxima: __________

---

Definitions:

Goods Y

A placeholder term often used in economics to refer to a specific category of goods under discussion or analysis, contrasting with another category labeled "Goods X".

Indifference Curves

Graphical representations in economics showing combinations of goods that give the consumer equal satisfaction and utility.

Utility Function

A utility function is a mathematical representation of a consumer’s preferences, ranking different bundles of goods according to levels of satisfaction.

Indifference Curve

A graph showing different bundles of goods between which a consumer is indifferent, meaning they would derive the same level of satisfaction from any combination.