Consumers can choose either fruit juice or a smoothie to satisfy the same want. The price of fruit juice rises, while smoothie prices remain unchanged. The table shows weekly demand for smoothies before and after the rise in fruit juice prices.
| Price per smoothie | Smoothies demanded each week before the rise in fruit juice prices | Smoothies demanded each week after the rise in fruit juice prices |
|---|---|---|
| £2.00 | 240 | 300 |
| £3.00 | 150 | 190 |
Calculate the change in the number of smoothies demanded each week at a price of £2.00.
Using the data, explain the effect of the rise in the price of fruit juice on the demand for smoothies.
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.