A live music venue called Mark’s House of Heavy Metal charges $10 per ticket (per person)...

A live music venue called Mark’s House of Heavy Metal charges $10 per ticket (per person) for all heavy metal concerts. Their variable cost is $5 per person. Last year they sold 120,000 tickets to heavy metal concerts. The average metalhead (i.e., customer) attends 20 concerts per year at Mark’s House of Heavy Metal. The customer retention rate is 90%. Assume a discount rate of 10%. What is an average customer worth to Mark’s House of Heavy Metal?

Expert Solution

Average consumer worth= (contribution earned from the consumers X number of concert attended by one consumer* retention rate)

=( 9-5)*(20)*90%

= 72

jeff jeffy answered 2 years ago

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