Question 2 Brian and Georgia are talking about a recent ofter for buying vinyl records and CDs. All records were on sale at the same price (say x ), while CDs were on sale at y pounds. For each situation below, write the corresponding system of simultaneous equations and indicate whether. Indicate which of the following discussions lead(s) to a unique solution. Find the corresponding solution in this case. 1. Brian: Have you seen that? I bought 2 records and 2 CDs for 50 pounds! Georgia: Yes ! I did the same I But I just bought 1CD and 1 record and it cost me 30. 2. Brian: Hooray, I just bought 3 records and 2 CDs for 50 quids, quite happy with that. Georgia: Sounds great ! I bought 2 CDs and 1 record for 30,1 love them already. 3. Brian: That deal is fantastic, I just bought 4 records and 2 CDs for 60 quids. I will go again next week to get some more! Georgia: Really nice. I just bought 2 CDs and 1 record and it cost me 30. I cannot wait to listen to them. Question 3 The supply and demand functions for a good are given by Demand: Pd=2000.5Qd Supply: Ps=10+0.5Qn 1. Compute the market equilibrium and represent graphically. 2. The supplier now needs to pay a commission of 5 for each sold good. Write down the new supply function. plot it and describe how the commission has modified the graph. Compute the new market equilibrium and represent graphically. 3. To boost sales, the government introduces a subsidy of 15 for the purchase of the good. Modify the supply function to incorporate this subsidy (assuming no commission). Describe the effect of the subsidy on the graph of the supply function. Compute the new market equilibrium and represent graphically. Question 4 The monthly price of an electricity bill is composed of a fixed fee of 30 plus the cost of electrical usage (in kWh ) at a fixed unit rate of 5p/kWh. 1. Write down a linear equation giving the price of an electricity bill that uses xkWh. 2. Use Excel to plot the price function for electricity usage ranging between 0 and 500kWh