A movie theater charges ticket prices of $4.50 during weekday afternoon matinee hours and $8.50 during evening and weekend hours. Economists explain the ticket price difference by the fact that the demand for movie tickets during the weekday afternoon mat

Economists explain that the demand for movie tickets during the weekday afternoon matinee hours is relatively low, while during the evening and weekend hours it is relatively high. This means that the movie theater can charge a higher price during peak demand times and a lower price during off-peak times in order to maximize their profits. By charging a lower price during weekday matinee hours, the theater may be able to attract more customers who may not be willing to pay the higher price for evening and weekend shows.