Demand for environmental testing in a region rose. Over the same period, qualified laboratory technicians moved into the region from elsewhere. Table 1 shows, at each hourly wage, how many technicians employers wanted to hire and how many were willing to work, before and after these changes.
| Hourly wage | Technicians demanded before | Technicians supplied before | Technicians demanded after | Technicians supplied after |
|---|---|---|---|---|
| £18 | 300 | 180 | 420 | 240 |
| £19 | 270 | 210 | 390 | 270 |
| £20 | 240 | 240 | 360 | 300 |
| £21 | 210 | 270 | 330 | 330 |
| £22 | 180 | 300 | 300 | 360 |
Using Table 1, calculate the percentage change in equilibrium employment after both changes.
Explain how the two changes led to the new equilibrium wage and level of employment.
149 exam-style questions on AQA GCSE Economics 1.5 Competitive and concentrated markets, covering 1.5.1a The range of market structures, 1.5.1b Distinguishing between market structures, 1.5.2a Characteristics of a competitive market, 1.5.2b How producers operate in competitive markets, 1.5.2c The economic impact of competition, 1.5.3a Characteristics of a non-competitive market, 1.5.3b How producers operate in non-competitive markets, 1.5.3c Monopoly and oligopoly, 1.5.4a The labour market and wage determination, and 1.5.4b Gross and net pay. Each one has a worked solution and a mark scheme showing where the marks go.