A firm initially sells 1,000 units at £12 and has total costs of £9,500. It then sells 900 units at £13 and total costs rise to £10,450. What has happened to profit?
It rises from £2,500 to £3,050
It rises from £2,500 to £11,700
It falls from £2,500 to £1,250
It falls from £9,500 to £900
30 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.