Question

Originally 21 acts were tentatively scheduled to perform at the arena; only 10 have been booked. What is the shortfall if the other acts do not perform

Answer 1

Answer:

Here is the complete question.

Originally 21 acts were tentatively scheduled to perform at the arena; only 10 have been booked. What is the shortfall if the other acts do not perform, assuming an average profit margin of $175,000 for each concert?

The shortfall is of $\ 1925000$

Explanation:

If all the acts were performed then the earnings would be $21\times 175,000=\ 3,675,000$

Now as mentioned in the question that only $10$ have been performed so far.

Now the earning from these $10$ acts $=10\times 175,000=1,750,000$

To find the shortfall.

We have to subtract the expected earnings with the actual earning from the concert.

So shortfall $=(3,675,000-1,750,000)\ =\ 1,925,000$

So the shortfall is of $\ 1,925,000$ if the other acts were not performed.