Hello , I have studied already optimization in my university but I have heard you say that we cannot say know if an extremum is a minimum or a maximum . I don't agree as in high school , if I do remember , we know that an extremum is a maximum or a minimum through the sign table that is to say that if we have an extremum point between a negative sign and a positive sign in the derivative then it's a minimum. If we have , an extremum point between a positive and a negative in the derivative then it's a maximum...
@@ihebbibani7122 yes it is true that you can use the “first derivative test” (sign table) to further test if it is a max/min/neither. However, this video was about the second derivative test specifically, which is always inconclusive if the second derivative is zero (then that means you must use the first derivative test/sign table)
Great explaination! But what if the second order derivative is a positive number like 2 with no x. Where do we substitute the critical point to find min Or max?
Great question! If the second order derivative is a positive number with no x, that means that no matter what critical point you would have plugged in, it’s a “positive” second derivative (concave up function) and therefore any critical point you found must have been a minimum. (And if the second derivative is a negative constant, then any critical point of your function is a maximum). Hope that helps!
@@Diagknowstics The explanation was so clear and that I could spot MWG, couldn’t resist the request for videos on Market failure. The diagrams are nightmare to interpret Requests: Intuition behind Profit function being • quasiconcave vis-à-vis strict quasiconvave. Why these conditions • Upper-hemi continuous Monopolist's Two-part pricing- intuition behind increasing utility of high demand customer vis-à-vis increasing utility of monopolist
Doing my masters in a top 5 university and this was a better explanation than the professor gave. You sir are doing the lords work. Thank you!
Thanks so much for the kind words!! Good luck with your program and feel free to share this with your classmates :)
U do this for masters😢...i do its for a diploma😭
same here, thanks a lot sirr, respect
I haven't seen someone explaining in this way before. you are the king of explanation thank you sir
Thank you so much!!
Thank you so much, now I understand why the first order condition it is needed to get the variance minimum portfolio (portfolio management - finance).
Thank you! Glad it was helpful!
Wow! loved the explanation and examples, thank you so much 🙏
Thanks for the kind words! Glad it was helpful :)
Thank you so much for all the clear explanations !
You’re welcome! Glad it helped!
great explanation!
Thank you!
Thank you so much for your help! You're amazing!
Thank you for the kind words! :)
Hello , I have studied already optimization in my university but I have heard you say that we cannot say know if an extremum is a minimum or a maximum . I don't agree as in high school , if I do remember , we know that an extremum is a maximum or a minimum through the sign table that is to say that if we have an extremum point between a negative sign and a positive sign in the derivative then it's a minimum. If we have , an extremum point between a positive and a negative in the derivative then it's a maximum...
@@ihebbibani7122 yes it is true that you can use the “first derivative test” (sign table) to further test if it is a max/min/neither. However, this video was about the second derivative test specifically, which is always inconclusive if the second derivative is zero (then that means you must use the first derivative test/sign table)
Great explaination! But what if the second order derivative is a positive number like 2 with no x. Where do we substitute the critical point to find min Or max?
Great question! If the second order derivative is a positive number with no x, that means that no matter what critical point you would have plugged in, it’s a “positive” second derivative (concave up function) and therefore any critical point you found must have been a minimum.
(And if the second derivative is a negative constant, then any critical point of your function is a maximum).
Hope that helps!
Very nice explanation. Waiting for videos on MWG topics thats there on your shelf. thanks
Haha definitely :) What would you say are the most in-demand (haha, pun) topics from MWG?
@@Diagknowstics The explanation was so clear and that I could spot MWG, couldn’t resist the request for videos on Market failure. The diagrams are nightmare to interpret
Requests:
Intuition behind Profit function being
• quasiconcave vis-à-vis strict quasiconvave. Why these conditions
• Upper-hemi continuous
Monopolist's Two-part pricing- intuition behind increasing utility of high demand customer vis-à-vis increasing utility of monopolist
very useful, thanks
Glad you found it helpful!
Very clear explanation, thank you!
Glad it was helpful! :)
thank you so much man
Best explanation ever!!!! thank you so much
Thanks for the kind words!! :)
Thank you. It was very helpful.
Thank you!
Thanks so much for this video!
Glad it helped!
Thank you so much!
You’re welcome! :)
This was really helpful!
Thank you! Glad it helped :)
Please add more lessons, especially for integration
give thanks
Glad this was helpful!