Step By Step Calculus » 13.0 - History and Applications

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History and Applications
Finding maximum or minimum value of a function has importance in a wide variety of practical applications that exists in science, engineering, economics, and business. For example, a manufacturing company can express its profit as a function of its products sold and then want to find the amount of products to be sold to maximize its profit. An engineering consultant can determine the shapes of materials to be used in order to maximize the strength of the structure. An economist can analyze different parameters that minimizes the demand of a particular commodity.