We s t End theatre, London, is considered to represent one of the highest levels of commercial theatre in the English-speaking world. The “theatre land” contains approximately fifty venues, attracting more than 14 million attendees in 2014. Box office ticket prices range from less than £10 for a few of the smaller shows to over £200 for some of the major productions with famous cast. Recently, a number of these shows have begun offering tickets at half price through discount ticket outlets. These are only available on the day of the show, on a first-come, first-served basis. Using the concept of marginal cost, explain why many of these productions have begun to offer these half-price tickets. Who do you suppose are the most- and least-likely customers to purchase show tickets through these dis-count ticket outlets? Can you think of any reasons why a production show would choose to not offer tickets in this manner?
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