A clothing manufacturer records the number of T-shirts it is willing and able to offer for sale each week at different prices. Its production costs and technology remain unchanged.
| Price per T-shirt | Quantity offered for sale per week |
|---|---|
| £12 | 240 T-shirts |
| £15 | 360 T-shirts |
Calculate the increase in the quantity offered for sale when the price rises from £12 to £15.
State the term used to describe the change in the quantity of T-shirts offered for sale when the price rises from £12 to £15.
81 exam-style questions on OCR GCSE Economics 2.3 Supply, covering 2.3.1 What is supply, 2.3.2 Draw a supply curve using data, 2.3.3 Explain a supply curve, 2.3.4 Shifts and movements of the supply curve, 2.3.5 Causes and consequences of supply changes, 2.3.6 Price elasticity of supply, 2.3.7 Draw supply curves of different elasticity, and 2.3.8 Importance of price elasticity of supply. Each one has a worked solution and a mark scheme showing where the marks go.