Answer:
total profit margin for all 12 concert is $6,400.
profit margin for all one concert is $533.33
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