A print studio produces 650 exhibition posters in one month. It sells 600 posters for £18 each. Its fixed costs are £2,400 and its variable cost is £9 for each poster produced.
Calculate the studio's total cost, total revenue and profit or loss for the month.
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.