A plant nursery grows and sells young trees. Its figures for one season are shown in the table.
| Young trees produced | Young trees sold | Price per tree | Fixed cost | Variable cost per tree produced |
|---|---|---|---|---|
| 3,200 | 2,850 | £18 | £14,400 | £7.50 |
Calculate the nursery's profit or loss for the season. Show your working.
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.