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(a) Determine if the given equation is a supply or demand equation. For a supply equation, find the minimum price for which there will be any supply. For a demand equation, find the maximum possible demand and the maximum price that can be charged. (b) Plot the graph of the given equation.$$x+4 p=16$$

(a) Demand, $x=16, p=4$

Algebra

Chapter 1

Functions and their Applications

Section 6

Economic Functions

Functions

Oregon State University

Baylor University

Lectures

01:43

In mathematics, a function is a relation between a set of inputs and a set of permissible outputs with the property that each input is related to exactly one output. An example is the function that relates each real number x to its square x^2. The output of a function f corresponding to an input x is denoted by f(x).

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mhm you have given in equation. She's X plus four p is equal 16 and were asked whether this question equation is equation off supply or demand. And after that, we have other things to do. So is this equation for supply and demand this equation? We put it in this form that p is equal. Let's put it this the busted for peace equal minus X plus 16. In other words, P E is equal to minus 1/4 ex plus four. Okay, so this is a very question. And as you see, this equation has a negative slope minus one fort. So the price and the and the quantity they crisis the negative slope, a za function off quantity. And so this is a demand function demand equation. Okay, if the slope was positive, that would be a supply. All right, so And what is the maximum quantity that one can have maximum quantity? You arrival it if you get P. If you put equal to zero, then you get Max quantity. Maximum of X here is going to be, uh, you're gonna have zero equal minus one for X plus four. So you're gonna have X equal 16 is the maximum quantity on what is the A maximum price That's been Mexico to zero. So Max P would be peak. What to four is the maximum price and 16 is maximum quantity. And finally, if you are there, draft this equation. You had P e z cold minus 1/4 X plus four wasn't Yes, So we put it. Call X equal to zero. Pz call. This is P. This is X, by the way. So four year and this is 16 here. Okay. And if you connect this, this is the equation for this crap.

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