The economics of broadway Essay Example | Topics and Well Written Essays - 500 words

The political economy of broadway - Essay ExampleThe purpose of this paper is to agree with this statement the economics of broadway are harsh and unforgiving because it is virtually impossible to raise substantially the productivity of performance.yet a long run,especially a musical,can minimize the potential for financial line.High Prices of ticketsThe price of tickets in at broadway theatre in recent times is known to be on the high side.And due to the high speak to of tickets,people now decide to go to the theatre fewer times compared to before.They are only prepared to pay for the high cost of tickets when there is a draw performance.And visiting the theatre has now become an event rather than a habit.This tantamounts to the drop in productivity of performance.Price DiscriminationOne point financial backing this notion is that economics of Broadway is harsh is the issue of price discrimination in the theatre.These involve the non- uniformity in prices of tickets.Different se ats qualities do have different prices to them.Also fire prices which are targetted at customers with low willingness to pay,result in prices that differ from the uniform set price. Selling of tickets at half-prices on the day of performance at a force out booth is seen as a damaged good that further discriminates among self-selecting customers.