Final answer:
The book's price increased by $4, calculated by subtracting the initial price from the new price, yielding the equation 16 + p = 20, where 'p' represents the increase.
Step-by-step explanation:
To determine how much Liz's book increased in price, we can establish a simple equation. The initial price of the book was $16, and the new price is $20. The increase in price can be represented by 'p' in the equation: 16 + p = 20. To solve for 'p', we will subtract the initial price from the new price:
- 20 - 16 = p
- p = 4
So, the book's price increased by $4.