Final answer:
All functions are relations, but not all relations are functions. A function is always a relation with a unique output for each input. The vertical line test can be used for piece-wise defined functions to determine whether they are functions.
Step-by-step explanation:
In the context of mathematical functions used in economic models or otherwise, here is the clarification of the statements about functions and relations:
- All functions are relations. This statement is true. Every function defines a relationship between sets of information such that each input is related to exactly one output.
- All relations are functions. This statement is false. A correct statement would be: A relation may or may not be a function, depending on whether every input has a unique output.
- A function may or may not be a relation. This statement is false. A correct statement would be: A function is always a relation, but with the additional constraint that each input has one and only one output.
- The vertical line test will not work for piece-wise defined relations. This statement is false. A correct statement would be: The vertical line test can work for piece-wise defined functions to determine if they are indeed functions, by checking if a vertical line intersects the graph more than once.