Find the Absolute Maximum Value and the Absolute Minimum Value

question 25

Multiple Choice

Find the absolute maximum value and the absolute minimum value, if any, of the given function.

• A) Absolute maximum value: ; absolute minimum value:
• B) Absolute maximum value: ; absolute minimum value:
• C) Absolute maximum value: ; absolute minimum value:
• D) No absolute extrema

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Definitions:

Utility Function

A numerical depiction of the ranking of a consumer's preferences among various products or results.

Private Consumptions

Expenditure by households and non-profit institutions serving households on goods and services used for individual consumption.

Total Amount

The aggregate sum of all units or quantities in consideration.

Pareto Optimal

A state of allocation of resources from which it is impossible to reallocate without making at least one individual worse off.