Question
Philadelphia'sWilma Theater(capacity 300 seats) normally runs three to five plays a year. In March it was preparing to start the play, Is God Is ,
Philadelphia'sWilma Theater(capacity 300 seats) normally runs three to five plays a year. In March it was preparing to start the play,Is God Is, but the plans were cancelled due to theCOVID-19-induced shutdown. Instead, the company decided to "stage" the play on radio. The recording was available from July 23-24 to the listeners willing to pay a minimum $10 donation. Considering Table9.1in the book, how would you classify the play as an economic good both in the theater version and in the radio version? What implications does this have, both for efficiency and for the company's pricing strategy
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