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1.4 Production, costs, revenue and profit

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Question 71

Harbour Kettles Ltd makes electric kettles. It produces 15,000 kettles a month. It sells 80% of them at £18 each and the rest at £14 each. Its monthly fixed costs are £54,000 and its variable cost is £6.40 per kettle.

Calculate Harbour Kettles Ltd's monthly profit.

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Markscheme

1.4 Production, costs, revenue and profit Questions

  1. GCSE
  2. /Economics
  3. /1.4 Production, costs, revenue and profit

138 exam-style questions on AQA GCSE Economics 1.4 Production, costs, revenue and profit, covering 1.4.1a Business objectives, 1.4.1b Types of costs and revenue, 1.4.1c Calculating profit, 1.4.1d Profit as an incentive to produce, 1.4.1e Moral and ethical considerations, 1.4.2a Production versus productivity, 1.4.2b Factors and benefits of productivity, 1.4.3a Economies of scale and business behaviour, 1.4.3b Types of economy of scale, and 1.4.3c Diseconomies of scale. Each one has a worked solution and a mark scheme showing where the marks go.

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