The table shows the weekly quantity demanded and quantity supplied of a specific raw material at different prices per tonne.
| Price per tonne (€) | Quantity Demanded (tonnes) | Quantity Supplied (tonnes) |
|---|---|---|
| 5 | 150 | 30 |
| 10 | 120 | 50 |
| 15 | 90 | 70 |
| 20 | 60 | 90 |
| 25 | 30 | 110 |
What is the state of the market for this raw material at a price of €20 per tonne?
Excess demand of 30 tonnes
Excess supply of 30 tonnes
Excess supply of 90 tonnes
Excess demand of 150 tonnes
11 exam-style questions on OCR A Level Economics The interaction of markets. Each one has a worked solution and a mark scheme showing where the marks go.