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First we need to choose an interval: Then we can say that a local maximum is the point where: The height of the function at a is greater than (or equal to) the height anywhere else in that interval. Or, more briefly: f(a) â¥ f(x) for all x in the interval. In other words, there is no height greater than f(a).
Define the term peak as it is used in economics. A. a point of an economic contraction B. the lowest point of an economic recession C. a steady depression D. the highest point of an economic expansion. A peak is the highest point between the end of an economic expansion and the start...