Answer
See graph and explanations.
Work Step by Step
Step 1. Graph the function $f(x)=x^3$, shown as the blue curve in the figure.
Step 2. To obtain the graph of function $g(x)=\frac{1}{2}(x-1)^3$, shift the original horizontally 1 unit to the right, then shrink the result vertically by a factor of 2 (shown as the red curve in the figure).