The table below shows the rapid growth in registered riders using 'VoltWheels', a commercial electric-bike rental platform operating in a metropolitan area, following the introduction of a central diesel-vehicle ban.
| Period | Registered VoltWheels Riders (thousands) |
|---|---|
| Q1 2022 | 14.2 |
| Q2 2022 | 28.5 |
| Q3 2022 | 51.1 |
| Q4 2022 | 89.4 |
Draw a supply and demand diagram to show the likely effect of this increase in registered riders on the market equilibrium for commercial electric-bike rental services.
21 exam-style questions on Edexcel A A Level Economics 1.2.6 Price determination. Each one has a worked solution and a mark scheme showing where the marks go.