The economics of broadway - Essay Example

Only on StudentShare

Extract of sample
The economics of broadway

The 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 problem".
High Prices of tickets:The price of tickets in at broadway theatre in recent times is known to be on the high side.And due to the high cost 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 hit performance.And visiting the theatre has now become an event rather than a habit.This tantamounts to the drop in productivity of performance.
Price Discrimination:One point supporting 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 seats qualities do have different prices to them.Also discount 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 discount booth is seen as a damaged good that further discriminates among self-selecting customers. ...Show more

Summary

Broadway is a major street in New York. From http://en.wikipedia.org/wiki/Broadway, Broadway theatre refers to theatrical productions produced in one of forty professional New York theatres.In a more common usage; it refers to general performance or theatrical productions.
Author : ohoeger
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"The economics of broadway"
with a personal 20% discount.
Grab the best paper

Related Essays

Economics essay
And hence, Economics gets an all-important slot everywhere. Nation wise or even internationally all important policies and decisions anchor upon Economics. Whether it's war policy or food policy, Economics plays a role in it. It's the duty of Economists to study the economic viability and impacts of major policies and policy changes.
5 pages (1250 words) Essay
The Broadway show Chicago
I was really amused by the various shows in the Broadway show in Chicago and some of the shows that interested me deeply include 101 Dalmatians, the Addams Family, August: Orsage County, Billy Elliot, Cats, Dream Girls, In the Heights, Jersey Boys, Mary Poppins, Rent, Shrek, South Pacific, and Young Frankenstein.
3 pages (750 words) Personal Statement
Economics USA
According Karl Marx the Business Cycle is the reason for the failure of Capitalism where as Joseph Schumpeter believes Business Cycle is the reason for the success of capitalism. But where we examine their statements it seems that both are true in their context.
2 pages (500 words) Essay
Organizational Culture
onstruction equipments of that time which were also used in the world war I and II effectively, The company is manufacturing seven types of products, but has a list of four hundred products as the seven are the main product types, initially it was formed as a heavy equipment
4 pages (1000 words) Essay
Unguarded Gates vs. A Broadway Pageant
Whitmans poem titled A Broadway Pageant is one of appreciation and warmth toward the people of the Orient and beyond. The poem was written in the year 1860 on the occasion of a Japanese envoys visit to United States.
2 pages (500 words) Essay
The Broadway Cafe
philosophies and has introduced his famous theory of Five Forces model in order to help the current organizations to identify their strengths and weakness in the current globalized business world. One of the major significances of Porter’s five forces model is its ability to
8 pages (2000 words) Case Study
Economics
176-177, 1999). In an oligopoly, the firms might produce a virtually identical product that in this case is the agricultural inputs such
4 pages (1000 words) Coursework
Find out how much would it cost
to get a custom paper written by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT