The supply function for a production is given by p=q^2 + 300 and the demand is given by p+q=410. Find the equilibrium quantity a
1 answer:
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Answer:
The local and global extrema are: (-3,0), (0,-1.62), and (3,0)
Step-by-step explanation:
To solve this, we can use a graphing calculator.
The graph of the function looks as it is shown on the image.
Local extrema is defined as the highest/lowest y-value in a general area, while global extrema are the highest/lowest defined y-value on the function.
This graph shows that the highest points (as it is tied at y=0) are (-3,0) and (3,0), so they would be both local and global maximum.
Additionally, the local min is seen to be at (0,-1.62). This is also a global minimum as this function is not given a defined domain, so it can be assumed that the domain of this function is (-∞,∞). Global extrema can only occur at defined values, so the end points of -∞ and ∞ can be ignored.
