Find the Absolute Maximum Value and the Absolute Minimum Value

question 145

Multiple Choice

Find the absolute maximum value and the absolute minimum value, if any, of the given function. on [1, 4]

• A) Absolute maximum value: ; Absolute minimum value: 5
• B) Absolute maximum value: ; Absolute minimum value: 4
• C) Absolute maximum value: ; Absolute minimum value: 5
• D) Absolute maximum value: ; Absolute minimum value: 4
• E) Absolute maximum value: ; Absolute minimum value:

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Definitions:

Demand

The consumer's desire and willingness to pay for a good or service, influenced by price, income, tastes, and expectations.

Demand

The volume of goods or services that shoppers are prepared and financially able to buy at several price points within a particular period.

Midpoint Method

A technique used in economics to calculate the elasticity of demand or supply, using the average of the initial and final quantities and prices to determine the percentage change.

Inelastic

Refers to a scenario in which the demand or supply for a product or service is relatively insensitive to price fluctuations.