Math Problem Statement
help
The graph below represents a linear ...................
Solution
The graph shown in the image represents a linear demand function. Here's why:
- The graph has price (P) on the vertical axis and quantity (Q) on the horizontal axis.
- The line is downward sloping, which indicates an inverse relationship between price and quantity. This characteristic matches a demand curve, where higher prices result in lower quantities demanded, and lower prices lead to higher quantities demanded.
The other options (supply, savings, and consumption functions) typically behave differently:
- A supply function usually slopes upwards, showing that higher prices lead to a greater quantity supplied.
- Savings and consumption functions are typically associated with income and may not directly involve price and quantity in the manner depicted here.
Would you like more details on this concept or further clarifications?
Related Questions:
- What is the mathematical equation for a linear demand function?
- How do shifts in demand affect the demand curve?
- What factors can cause a demand curve to shift?
- How does elasticity relate to the demand curve?
- What are the key differences between demand and supply functions?
Tip: A downward-sloping line on a price vs. quantity graph is often a sign of a demand function, reflecting the law of demand in economics.
Ask a new question for Free
By Image
Drop file here or Click Here to upload
Math Problem Analysis
Mathematical Concepts
Linear Functions
Demand Curve
Formulas
P = b - mQ (Linear Demand Function)
Theorems
Law of Demand
Suitable Grade Level
Grades 9-12