Market For Live Rock Concerts

Total Sales Dollars (for covering each incremental dollar of advertising) = $200,000 / $150,000 = $1.33

From a human resources standpoint, FNL currently has a great relationship with its clientele and is rich with performers and entertainers eager to take part in the events. This is demonstrated by the growth of visitors to 25,000 in the last season with additional growth expected. By last year’s numbers alone, 2,800 visitors can be expected, demonstrating the objective is not out of reach (see Exhibit 1). As the venue’s maximum operational capacity is limited 5,000 people, a sellout is plausible, creating a feel of exclusivity, encouraging people to buy their tickets in advance. A sold out event would be a huge success not only in achieving the desired attendance, but also for the future episodes in the

“The Cross-price elasticity of demand measures the rate of response of quantity demanded of one good, due to a price change of another good” (Economics.about.com,

Fixed costs are what it costs a company to run before they make any products irrespective of the level of activity e.g. rent & rates, insurance, salaries, utilities.

Both substitutes and complements affect the cross elasticity of demand, which is a measure of how much the quantity demanded of one good responds to a change in price of another good, computed as the percentage change in quantity demanded of the first good divided by the percentage change in price of the second good. Substitutes cause a positive relationship, while complements cause a negative relationship.

The income of these mainstream artists is more dependent on the number of sold out concerts and amount of merchandise sold than number of songs sold on iTunes. A person is more likely to buy concert tickets and merchandise if they listen and grow to like the music that an artist plays. Many people do not find paying $15 for an album is worth the money, when they can get it for free somewhere online. On the other hand, people will spend about $150 to attend a live concert of their favorite band. A utilitarian would say that because a person downloaded the music illegally, they grow fonder of a musician, and are more likely to go to a live concert and spend excess money on a ticket and merchandise.

In the story call of the wild  there were a lot of dogs and people not right

All the costs by a company can be broken into two categories, fixed costs and variable costs. Costs that are independent of output are called fixed costs. Fixed costs remain constant throughout the relevant range and are usually considered sunk for the relevant range. Buildings and machinery are included inputs that cannot be adjusted in the short term. They are only fixed in relation to the quantity of production for a certain time period. The cost of all inputs is variable, in the long run.

Customers no longer feel obliged to pay for music they do not want and individually purchase tracks or even listen to music online without making any purchase.

Fixed costs are those which do not change with the level of activity within the relevant range. These costs will incur even if no units are produced. For example rent expense, straight-line depreciation expense, etc.

In addition, the firm can't change its fixed cost in the short run. Therefore, the firm must choose the level of variable inputs that results in the profit maximizing output level.

Elasticity of demand is shown when the demands for a service or goods vary according to the price. Cross-price elasticity is shown by a change in the demand for an item relative to the change in the price of another. For substitutes, when there is a price increase of an item, there is an increase in the demand for another item. When viewing complements, if there is an increase in the price of an item, the demand for another item decreases. Income elasticity is shown when there is a change in the demand for a good relative to a change in income. This concept is shown in how people will change their spending habits when their income levels change. For

In Animal Farm by George Orwell, history seems to be repeating itself. The leader appears to be using Karl Marx’s theory of the need for a dictatorship of the proletariat, or the working-class people (Jacobus). More and more corruption, the dishonest conduct by those in power, keeps occurring because the leadership claims a monopoly on reason and resources while the common people suffer and grow hungry. The leader forgets about his own beliefs due to the overwhelming power and it turned him into what the farm had once rebelled against.

Adding to the already competitive entertainment market is the invention of online music and peer-to-peer file sharing programs such as Napster, Limewire, and Itunes. The teenage market, which contributes a majority of the entertainment income, can use programs like Napster to download movies and games to entertain themselves at little or no cost, so paying $9 to watch a movie becomes even less attractive when you can "watch it for free."

The internet is the one media that brings up the most controversy in bands spreading their music. Whether they promote it or not their music is downloaded for free on the internet. Most bands do not like that their music is downloaded for free, but they can’t do much to stop it. In a way downloading music for free could bring the musicians even more money. If a person likes one of the songs they downloaded off of the internet they may be inclined to buy the entire album or at least the single. After the person buys the latest album they may even buy earlier albums from the same artist if they like the music enough. The internet has