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A football club raises all stadium seat prices by 5%. The demand for seats falls by 1% in zone W, by 3% in zone X, by 5% in zone Y and by 6% in zone Z. In which zone is the responsiveness of demand for seats to the price change elastic?

zone Z

Answered by Economics tutor
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Solve the simultaneous equations 2x + 3y = 6 - 3x and 5x + 6y = 10 - y.

Step 1: First it is best to rearrange the to simultaneous equations to have the unknown variables on one side and the constants on the other: 5x + 3y = 6 and 5x + 7y = 10.Step 2: Next is to notice that bo...

FW
Answered by Fraser W. Maths tutor
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(b) In 2013, the price for each unit of electricity was 13.5 cents. Over the next 3 years, this price increased exponentially at a rate of 8% per year. Calculate the price for each unit of electricity after 3 years

answer = 17.01 cents

Answered by Maths tutor
4367 Views

(ii) In 90 days, the gas used by a family cost $198.16 . Calculate the number of units of gas used.

total in CENTS = (n days x p per day) + (n units x p per unit)19816 = (90 X 24.5) + (y x 5.5)y = 3202 units

Answered by Maths tutor
4915 Views

Electricity: 23.15 cents p/day plus 13.5 cents p/unit used Gas price: 24.5 cents p/day plus 5.5 cents p/unit used (a)(i) In 90 days, a family used 1885 units of electricity. Calculate the total cost, in dollars, of the electricity they used.

answer: $275.31(n of days x price p/day) + (n units used x price p/unit)(90 x 23.15) + (1885 x 13.5) = 27531 CENTS27531 CENTS = 275,31 DOLLARS

Answered by Maths tutor
3398 Views

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