The table shows the equilibrium in the market for commercial compost before and after a change. Demand conditions remained unchanged.
| Before the change | After the change | |
|---|---|---|
| Equilibrium price per tonne | £42 | £51 |
| Equilibrium quantity traded per month | 18,000 tonnes | 15,000 tonnes |
Which change best explains the new equilibrium?
The supply curve shifted to the right.
There was a contraction along the supply curve.
The supply curve shifted to the left.
There was an extension along the supply curve.
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.