An indoor climbing centre announces that its day-pass price will rise from £12 to £15 next month. The current day-pass price remains £12, and the centre has enough capacity for additional visitors this month.
Explain how this announcement is likely to affect demand for day passes and the centre's revenue this month.
82 exam-style questions on OCR GCSE Economics 2.2 Demand, covering 2.2.1 What is demand, 2.2.2 Draw a demand curve using data, 2.2.3 Explain a demand curve, 2.2.4 Shifts and movements of the demand curve, 2.2.5 Causes and consequences of demand changes, 2.2.6 Price elasticity of demand, 2.2.7 Draw demand curves of different elasticity, and 2.2.8 Importance of price elasticity of demand. Each one has a worked solution and a mark scheme showing where the marks go.