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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.
Distribution of Income
The way in which a nation’s total earnings are divided among its population, or how the nation's wealth is shared among individuals.
Production
The process of creating goods and services to satisfy consumer demand.
Fair
An event characterized by the exhibition and sale of goods or the display of entertainment, or the adherence to equitable principles in judgments and treatments.
Collective Decision Making
The process in which a group, rather than an individual, makes a choice or judgment after considering various alternatives.
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