12 Written Hornework: Functions Student Name: Instructor: Math 112 Section Test
ID: 2251903 • Letter: 1
Question
12 Written Hornework: Functions Student Name: Instructor: Math 112 Section Test market cata shows that changing the price of a product changes the derand (the number of units that people are will to purchase), For a certain product, che test market daca indicates the following Purccase price (dollars) 15 Demand (# of units) | 550,000 20 25 30 | 445,000 | 330,000 225,COO Does this table Indicate that purchase price is a function of demand? Why o: why not? Does this table indicate that demand is a function of purchase pr:ce? Why or why not? T he tadle dloes not indlicate pr'ce beina Sunchion of dlemend. The pre not dependent on the num ber of un-peple people are are i finch'onf price T2 e numloer.fun.1 orExplanation / Answer
This is a classic problem of identifying the dependent and independent variable.
Now, an independent variable is something whose value can be controlled. While a dependent variable is something whose value cannot be controlled and is rather is affected by the independent variable.
Clearly demand of any product is something that cannot be controlled, however, the price of a product can be and is controlled by the producers.
Therefore, we can say that in the table above the demand is a function of the price.
Moreover, as per the given data we can see that as the price increases the demand decreases. that is to say that they are inversely proportional to each other.
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