also, the foundation of the analogy is wrong. Food prices vary constantly and are reflected in restaurant prices. (Some, especially high end, menu items are marked "M.P." or the like; others are just marked way up to cover the costs and more. For instance, the cost of a $12 omelette rarely reaches $1, so fluctuations in the price of its contents don't require adjustments. This also makes a more important point which is that there is no correlation between cost and price for the overwhelming majority of things we spend money on: it's demand. When a restaurant goes from 2 Michelin stars to 3, the prices go up. Yet if they have a slow night (Super Bowl Sunday, e.g.) you may find a "special" on FB or somewhere.
Theatre tickets do no correlate to costs, only to demand. Whether the rack rate varies or discounts are offered, it is still all about not letting seats go empty (as on a plane) and that's the same as not letting food rot because it demand was low and no effort was made to adjust it. |
