Supply or Demand Equation

Determine if the given equation is a supply or demand equation 16x+13p=1040

**A)**Supply Equation

OR

**B)**Demand Equation

For supply equations, find the minimum price for which there will be any supply.

For demand equations, find the maximum price that can be charged and the maximum demand.

(Type 0 if it does not apply.(Even though 0 might not be the answer.))

Minimum price=__________

Maximum demand=__________

Maximum price=_________

Re: Supply or Demand Equation

Well, what have **you** done on this and what do **you** know about it? I presume you have seen some "supply" and "demand" equations before. What distinguishes them?

Re: Supply or Demand Equation

Quote:

Originally Posted by

**HallsofIvy** Well, what have **you** done on this and what do **you** know about it? I presume you have seen some "supply" and "demand" equations before. What distinguishes them?

actually I figured it out. This is what I got---

Determine if the given equation is a supply or demand equation 16x+13p=1040

A)Supply Equation

OR

__B)Demand Equation__

For supply equations, find the minimum price for which there will be any supply.

For demand equations, find the maximum price that can be charged and the maximum demand.

(Type 0 if it does not apply.(Even though 0 might not be the answer.))

Minimum price= 0

Maximum demand= 65

Maximum price= 80

Re: Supply or Demand Equation

Correct. It's been a long timne since I took economics, but one thing I do remember is that if price goes up demand goes down, which is exactly what happens with this equation.