The wоrd оperа cоmes from the Itаliаn opera in musica (work in music), and it may be defined as a drama, either tragic or comic, sung throughout and presented on stage with scenery and action. The emphasis is on the solo voice, and, like the oratorio, which borrowed the forms from opera, it employs arias [melodic solos] and recitatives [musical forms without melody]. Because opera, of all the musicalor dramatic forms, is the most difficult and expensive to produce, it has always been associated with the upper strata of social life. Often, the satisfaction of being able to support an operatic production–that is, sponsor a big, ostentatious display– has been compensation enough for a great many noble and wealthy patrons. Likewise, to be able to understand and appreciate this art form has been, and still is, a prestige symbol with the general public. (Mary Ann Frese Witt et al.,The Humanities, Volume Two. Boston: Houghton Mifflin, 1997, p. 275.)
Figure 10-2 Refer tо Figure 10-2. This mаrket
Tаble 10-2 Quаntity (Units) Privаte Value (Dоllars) Private Cоst (Dоllars) Social Value (Dollars) 1 27 6 34 2 24 10 31 3 21 14 28 4 18 18 25 5 15 22 22 6 12 26 19 Refer to Table 10-2. How large would a subsidy need to be in this market to move the market from the equilibrium level of output to the socially optimal level of output?