Table 1 shows the weekly market supply of commercial laundry services in one town before and after hourly wages in the industry increased.
| Period | Price per load | Quantity supplied per week |
|---|---|---|
| Before hourly wages increased | £35 | 900 loads |
| After hourly wages increased | £35 | 760 loads |
Using the information in Table 1, explain whether this change is a decrease in supply or a contraction 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.