Misleading because it is about maximising profit. That is what leads to the cinema's attempt to clear the market. If they make no profit on the £4 student they don't care whether he sees his film or not.

Peoples valuation isn't going to be consistent either, nor is it going to exist in a vacuum. For instance, if the £7 students here that their stingy friend gets in for £4 then they may well see things differently.