A pottery studio sells all the bowls it produces. Its figures for one production run are shown below.
| Price per bowl | Bowls sold | Fixed cost | Variable cost per bowl |
|---|---|---|---|
| £27 | 900 | £7,200 | £14 |
What is the studio's profit for this production run?
£11,700
£17,100
£19,800
£4,500
83 exam-style questions on OCR GCSE Economics 2.6 Production, covering 2.6.1 Role of producers, 2.6.2 Importance of production and productivity, 2.6.3 Calculate cost, revenue, profit and loss, 2.6.4 Explain cost, revenue, profit and loss, 2.6.5 Cost, revenue and profit for producers, and 2.6.6 Economies of scale. Each one has a worked solution and a mark scheme showing where the marks go.