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A product with perfectly elastic supply has sales of 100 units per week at a price of £2 per unit. Price elasticity of demand is(-)1 .5 over the relevant range. The government imposes a tax 20%. What will be the government’s weekly tax revenue?

£28

Answered by Jamie I. • Economics tutor

1929 Views

How should I answer a source-based exam question?

Source-based exam questions typically make up about half of the examined questions at GCSE level History. They can seem pretty challenging and confusing at first, but if you answer them in a structured wa...

Answered by Imogen K. • History tutor

2274 Views

ABCD is a rectangle with sides of lengths x centimetres and (x − 2) centimetres.If the area of ABCD is less than 15 cm^2 , determine the range of possible values of x.

First you interpret the given information and create an equation based on the question. x(x-2)<15. Then you express that equation in standard quadratic form: x^2-2x-15<0. Then you have to not forget...

Answered by • Maths tutor

5309 Views

Lily is buying theatre tickets. 4 adult tickets at £15 each 2 child tickets at £10 each A 10% booking fee is added to the ticket price. 3% is then added for paying by credit card. Work out the total ticket price if Lily is paying by card?

First we need to find out the price of the tickets without the booking fee and credit card fee.4x15=602x10=2060+20=80 (This is the price of 6 tickets without fees)Now we calculate the booking fee, which i...

Answered by Vaiva P. • Maths tutor

3654 Views

Solve the simultaneous equation: x+2y=8 and 2x+y=10 - using a calculator

Make the x's the same in order to remove the x's from the eqn Multiply eqn (1) by 2 and keep eqn (2) the same to gain 2x+4y=16 and 2x+y=10To get rid of the x's, subtract: eqn (1) - eqn (2)4-1y = 16-10 whi...

Answered by Robyn W. • Maths tutor

2975 Views