A quadratic equation like [tex]ax^2+bx+c[/tex] has a minimum if [tex]a>0[/tex] and a maximum if [tex]a<0[/tex] as critical points.
In both cases, the critical point has [tex]x[/tex] coordinate [tex]-\frac{b}{2a}[/tex]
In your case, we have [tex]a=0.01>0[/tex], so the parabola has indeed a minimum, located at
[tex]x=-\dfrac{-7}{0.01}=700[/tex]
