Who is the "Competition?"
25 yrs. ago when my admission was $2.00, my biggest competition was the $5.00 can of beer bought illegally from someone old enough (hence the $5.00 investment.)
The actual "Cost" of live entertainment also has to include some of the expenses of travel to arrive and return. The price of a gallon of gas , ex cetra plus money for incidentals like a pop or burger and admission.....
Working 30 hrs at 8$ might make the decision for a great many to stay home so they can buy groceries instead.