Refer to the data below showing the rapid increase in monthly active subscribers for VeloShare, an urban e-cargo bike subscription service operating in metropolitan centers.
| Period | VeloShare Subscribers (thousands) |
|---|---|
| January 2023 | 12.5 |
| April 2023 | 34.0 |
| July 2023 | 78.5 |
| October 2023 | 155.0 |
Draw a supply and demand diagram to show the likely effect of this change in the number of subscribers on the market equilibrium for VeloShare subscription 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.