A car-valeting business charges £45 for each appointment. For next week, the owner plans to offer 70 appointments at this fee, although the staff and equipment could handle up to 90. Customers have so far asked to book 60 appointments for next week. Last week, at the same fee, the business completed 55 appointments.
What is the business's quantity supplied of appointments for next week at £45?
60 appointments
55 appointments
70 appointments
90 appointments
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.