$\text { Locate the absolute extrema of the function } f ( x ) = x ^ { 3 } - 12 x \text { on the closed interval }$

question 25

Multiple Choice

$\text { Locate the absolute extrema of the function } f ( x ) = x ^ { 3 } - 12 x \text { on the closed interval }$ $[ 0,4 ] .$

• A) absolute max: \(( 2 , - 16 ) ;\) absolute min: \(( 4,16 )\)
• B) no absolute max; absolute min: \(( 4,16 )\)
• C) absolute max: \(( 4,16 ) ;\) absolute min: \(( 2 , - 16 )\)
• D) absolute max: \(( 4,16 )\); no absolute min
• E) no absolute max or min

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Definitions:

Long-Run Equilibrium

A state in which all firms in a given industry are making zero economic profit, leading to an optimal allocation of resources given current technology and factor prices.

Selling Price

The amount of money for which a product or service is sold to consumers.

Average Total Cost

The total cost per unit of output, calculated by dividing the total cost by the quantity of output produced.