Hypothesis of Implicit function theorem

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Consider a function $f : R^2 \rightarrow R$ given by $f(x,y)= x^2 - y^3.$ I need to check whether the hypothesis of Implicit function theorem hold for $f$ at the point $(0,0)$.

For this, I first calculated the matrix $M(x,y)$ formed by differentiating this function with respect to $y$. $M(x,y) = -3y^2$. It's clearly non-invertible at $(0,0)$. I am stuck here as non-invertibility gives me an inconclusive test. How do I show that hypothesis of Implicit function theorem holds here or not?

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Your calculations are correct. So, you have verified that the hypotheses of the Implicit Function Theorem are not satisfied by $f$ at the point $(0,0)$.

Additionally, note that at any point $(x,y) \neq (0,0)$, either $D_1 f(x,y) \neq 0$ or $D_2 f(x,y) \neq 0$. So, the hypotheses of the Implicit Function Theorem will be satisfied by $f$ at any point $(x,y)$ such that $f(x,y) = 0$ except $(0,0)$.