Question

In: Economics

Find the relative maximum and minimum value if the following one variable function (If there is...

Find the relative maximum and minimum value if the following one variable function (If there is any):

a) y = x^2 + 2x + 1

b) y = 6x^2 - 12x

c) y = x^2 + 2x + 1

d) y = x^4

Solutions

Expert Solution

a) y is minimum when x = -1 and minimum value of y = 0

Equating to 0, we get,

Hence x= -1 is a minimum

When x= -1,

b) y is minimum when x = 1 and minimum value of y = -6

Equating to 0, we get,

Hence x= 1 is a minimum

When x=1,

c) y is minimum when x = -1 and minimum value of y = 0

Equating to 0, we get,

Hence x= -1 is a minimum

When x = -1,

d) y is minimum at x=0 and the minimum value of y =0

Equating to 0, we get,

The second derivative of the function is 0 at x=0. Therefore, we cannot be sure if x=0 is a minimum or maximum or a point of inflection. First, we will check if x=0 is an inflection point. For this, we need to see if second derivative is of same sign on both sides of x=0.

At x= -1,

At x= 1,

The second derivative do not change sign on both sides of x=0. Hence we can conclude x=0 is not an inflection point. Now, let us see if x=0 is a minimum or maximum. For that we need to calculate the first derivative on both sides of x=0.

At x= -1,

At x= 1,

That is slope changes from negative to positive at x=0. hence this point is a minimum.

At x=0,


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