A beekeeping business produces and sells jars of honey. Its figures for one month are shown in the table.
| Item | Amount |
|---|---|
| Quantity produced and sold | 1,250 jars |
| Price per jar | £6.40 |
| Fixed cost | £2,400 |
| Total variable cost | £4,950 |
Calculate the business's profit or loss for this month. 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.