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2.4 Price

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Question 11

The table shows weekly demand and supply for insulated lunch bags.

Price per bagQuantity demanded per weekQuantity supplied per week
£101,200500
£15900900
£206001,300

Using the table, identify the equilibrium price and the equilibrium quantity.

[2]
Markscheme

2.4 Price Questions

  1. GCSE
  2. /Economics
  3. /2.4 Price

75 exam-style questions on OCR GCSE Economics 2.4 Price, covering 2.4.1 Price and distribution of resources, 2.4.2 Equilibrium price and quantity, 2.4.3 Draw the interaction of demand and supply, 2.4.4 Analyse the interaction of demand and supply, 2.4.5 Role of markets in allocating resources, and 2.4.6 Market forces and equilibrium. Each one has a worked solution and a mark scheme showing where the marks go.

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