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24 July, 10:01

An arena receives $1,700 per event for 12 concerts. If the costs for this sponsorship total $14,000, what is the profit margin for the concert sponsorship?

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  1. 24 July, 12:12
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    total profit margin for all 12 concert is $6,400.

    profit margin for all one concert is $533.33

    Step-by-step explanation:

    Amount of money received for one event = $1700

    Total no of concert = 12

    Total money received for 12 event = Amount of money received for one event * Total no of concert

    Total money received for 12 event = $1700 * 12 = $20,400

    Total cost of sponsorship = $14,000

    Profit margin is the difference money invested and money earned.

    here total investment is $14,000

    Total money earned is $20,400

    Therefore profit margin = money earned - total investment

    = $20,400 - $14,000 = $6,400

    Therefore total profit margin for all 12 concert is $6,400.

    However to calculate profit margin for one concert we can simply divide the total profit margin for all 12 concert by no of concert (i. e 12)

    profit margin for one concert = total profit margin for all 12 concert/total no of concert = $6,400/12 = $533.33

    profit margin for all one concert is $533.33
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