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Price Discrimination: Hank's Honkytonk is a local bar and nightspot. On weekends, it requires a $5 cover charge to defray the costs of the live musical acts Hank brings in. This has worked wonderfully, as it generates capacity crowds and a long line of people waiting to enter.
Explain the economic significance of charging a $5 cover for the live musical acts (as a form of price discrimination). Provide two examples of pricing or product differentiation schemes that Hank could implement to increase profitability.
Describe two (2) symbolic elements of the painting and any other features that stand out to you.
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