The price each of two manufacturers receives for its product rises, and their weekly output changes as shown. Assume other factors affecting supply remain unchanged.
| Manufacturer | Price per item before | Price per item after | Weekly output before | Weekly output after |
|---|---|---|---|---|
| A | £20 | £22 | 500 items | 550 items |
| B | £30 | £33 | 600 items | 780 items |
Calculate the price elasticity of supply for each manufacturer and compare their price elasticity of supply.
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.