Maxima and minima

Maxima and minima

We are using maxima and minima in our daily life as well as in every field such as chemistry, physics, engineering and in economics etc.,

In particular, we can use maxima and minima

(i) To maximize the beneficial values like profit, efficiency, output of a company etc.,

(ii) To minimize the negative values like, expenses, efforts etc.,

(iii) Used in the study of inventory control, economic order quantity etc.,

1. Increasing and decreasing functions

2. Stationary Value of a function

3. Local and Global(Absolute) Maxima and Minima