Help with expression

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March 16th 2009, 04:04 PM
mattll

Help with expression

Hi, I have been given a question which I am having difficulty understanding.

The selling price of a packet of cigarettes is made up of two elements, the seller’s revenue per packet and the tax paid to the exchequer per packet. You are given that the seller’s revenue is fixed at £1.25 per packet although the tax paid to the exchequer per packet can be changed. Find an expression for each of the following in terms of p, the selling price in £:
(i) C – the total combined weekly revenue measured in £millions,
(ii) S – the total seller’s weekly revenue measured in £millions,
(iii) E – the total exchequer’s weekly revenue measure in £millions

Any help will be much appreciated (Nod).
March 16th 2009, 11:48 PM
ADARSH

Quote:

Originally Posted by mattll

Hi, I have been given a question which I am having difficulty understanding.

The selling price of a packet of cigarettes is made up of two elements, the seller’s revenue per packet and the tax paid to the exchequer per packet.
Selling price of a packet = 1.25£ + Tax paid to enchequer(Unknown)

You are given that the seller’s revenue is fixed at £1.25 per packet although the tax paid to the exchequer per packet can be changed.
Unknown will trouble us

Find an expression for each of the following in terms of p, the selling price in £:

if it was the number of packets sold in some time ,this question would have made some sense , I will consider that k packets were sold in a week

(i) C – the total combined weekly revenue measured in £millions,

this doesn't give much sense

(ii) S – the total seller’s weekly revenue measured in £millions,

$\color{red}C= k \times 1.25$

(iii) E – the total exchequer’s weekly revenue measure in £millions
Unknown will change the value which itself is not given

Any help will be much appreciated (Nod).

Please give the complete question and if this is all than I seriously doubt that this question is correct/complete (I have pointed in Red)
March 18th 2009, 08:31 AM
mattll

Quote:

Originally Posted by ADARSH

Please give the complete question and if this is all than I seriously doubt that this question is correct/complete (I have pointed in Red)

When the selling price of a packet of 20 cigarettes is £2.25 the weekly demand in the UK is 11 million and when the selling price is £4 the weekly demand is 7.5 million.

(a)Find the demand equation stating q, the weekly demand in millions, in terms of p, the selling price in £, assuming that this is a linear relationship.

I get this to be P = -2q + 13

(b)Suppose that the selling price of a packet of cigarettes is made up of two elements, the seller’s revenue per packet and the tax paid to the exchequer per packet. You are given that the seller’s revenue is fixed at £1.25 per packet although the tax paid to the exchequer per packet can be changed. Find an expression for each of the following in terms of p, the selling price in £:
(i) C – the total combined weekly revenue measured in £millions,
(ii) S – the total seller’s weekly revenue measured in £millions,
(iii) E – the total exchequer’s weekly revenue measure in £millions.
March 18th 2009, 08:33 AM
mattll

thanks for the help so far, that is the full question.