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Profit

Profit= Total Revenue - Total Costs

(c) Calculate PLK’s weekly profit. (4 marks)

Revenue = 1000 meals x $3 = $3000
Variable Costs = 1000 meals x $2 = $2000
Fixed Costs = $300
Total costs =$2300
Profit = Revenue - total costs = $3000 - $2300 = $700
$700