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GA Q8

MCQ2 marks, −0.67

For positive real numbers SS and KK, the function HK(S)H_{K}(S) is defined as: HK(S)=max⁡(S−K,0)H_{K}(S)=\max (S-K, 0). The max function is defined as:

max⁡(a,b)={a, when a>bb, when a≤b\max (a, b)=\left\{\begin{array}{ll} a, & \text { when } a>b \\ b, & \text { when } a \leq b \end{array}\right.

The graph below shows the plot of a function N(S)N(S) versus SS. N(S)N(S) can be expressed as ____\_\_\_\_.

Figure 1

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