A ceramics producer offers vases for sale each week. An energy levy increases the producer's energy costs. The table shows the quantity of vases offered at a price of £12 before and after the levy.
| Quantity of vases offered per week | |
|---|---|
| Before the levy | 1,000 |
| After the levy | 850 |
Explain what has happened to the supply of vases and suggest one likely consequence for consumers.
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.