More households begin booking one-hour domestic window-cleaning appointments. The number of appointments firms are willing to provide at each price does not change.
Table 1
| Price per appointment | Original quantity demanded (appointments per week) | New quantity demanded (appointments per week) | Quantity supplied (appointments per week) |
|---|---|---|---|
| £20 | 120 | 160 | 120 |
| £24 | 100 | 140 | 140 |
Using Table 1, explain the change in equilibrium price and equilibrium quantity.
236 exam-style questions on AQA GCSE Economics 1.3 How prices are determined, covering 1.3.1a Demand and the factors that influence it, 1.3.1b The demand curve, 1.3.2a Supply and the factors that influence it, 1.3.2b The supply curve, 1.3.3a Determining equilibrium price, 1.3.3b Applying diagrams and showing revenue, 1.3.4a Complements and substitutes, 1.3.4b Effects of changes on related markets, 1.3.5a Price elasticity of demand, 1.3.5b Factors affecting price elasticity of demand, 1.3.5c Measuring PED and its implications, 1.3.6a Price elasticity of supply, 1.3.6b Factors affecting price elasticity of supply, and 1.3.6c Measuring PES and its implications. Each one has a worked solution and a mark scheme showing where the marks go.