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2.2 Quadratic functions • Quadratic equation: y Ax Bx C 2 • Use knowledge of quadratics to find maximum and minimum values. Quadratic functions can be used to describe supply and demand curves, profit, revenue, cost, and other situations, quadratic functions can be written in the form f ( x) ax bx c 2 Remember that the maximum or minimum value of a quadratic function occurs at the y of the vertex. x is where the maximum or minimum occurs. The vertex is the point b b , f ( ) 2a 2a Example Let C(x) be the cost to produce x items and R(x) be the revenue from x items. (a) Graph both functions (b) find the minimum break-even quantity, (c) find the maximum revenue (d) find the maximum profit. R( x) .5 x 8 x C ( x) 1.5 x 15 2 Answers B)3 C)$32 D)$6.13