Sketch the Graph of the Function $y = x ^ { 4 } + 2 x ^ { 2 } - 1$

question 34

Essay

Sketch the graph of the function $y = x ^ { 4 } + 2 x ^ { 2 } - 1$ and describe its end behavior.

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Definitions:

Elasticity of Demand

An index indicating the degree to which demand for a product changes in response to a price change, where an elasticity greater than one signifies a high level of responsiveness.

Income Elasticity

A measure of how much the demand for a good or service changes with a change in consumers' income.

Most Elastic

Refers to the responsiveness of demand or supply to changes in price, with the most elastic being the most sensitive to price changes.

Perfectly Elastic

A situation in a market where the quantity demanded or supplied responds infinitely or disproportionately to changes in price.