To determine the local maximum and minimum values of the function \(f(x) = x + \dfrac{1}{x}\) for \(x \neq 0\), we need to follow these steps:
- Calculate the derivative of the function to find critical points where potential extrema can occur. The derivative of \(f(x)\) is: \(f'(x) = 1 - \dfrac{1}{x^2}\).
- Set the derivative equal to zero to find critical points: \(1 - \dfrac{1}{x^2} = 0\). This leads to:
\(\dfrac{1}{x^2} = 1\) or \(x^2 = 1\)
- Thus, \(x = 1\) or \(x = -1\).
- Evaluate the function at the critical points to find the function values:
- At \(x = 1\), \(f(1) = 1 + \dfrac{1}{1} = 2\).
- At \(x = -1\), \(f(-1) = -1 + \dfrac{1}{-1} = -2\).
- Determine the nature of these critical points (maximum or minimum) using the second derivative test:
- Calculate the second derivative: \(f''(x) = \dfrac{2}{x^3}\).
- Evaluate the second derivative at \(x = 1\): \(f''(1) = \dfrac{2}{1^3} = 2 > 0\). Positive value indicates a local minimum at \(x = 1\).
- Evaluate the second derivative at \(x = -1\): \(f''(-1) = \dfrac{2}{(-1)^3} = -2 < 0\). Negative value indicates a local maximum at \(x = -1\).
Conclusion: The function \(f(x) = x + \dfrac{1}{x}\) has a local maximum value of \(-2\) at \(x = -1\) and a local minimum value of \(2\) at \(x = 1\).
Therefore, the correct answer is: The local maximum value is −2.