A small music venue can hire extra security staff at a fixed wage of £15 per hour. At this wage it can obtain any number of security hours it requires. It initially hires 200 hours and later hires 320 hours.
Explain how the perfectly elastic supply of security hours affects the total revenue received by security workers.
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.