"Claims by the author contrary tothe law of demand and supply ? The law states the quantity if good supplied rises as themarketprices rise and falls as the price falls ? The author indicates that you will pay more on a ticket onweekends and lesson weekdays ? Considering that there is a large number of people watching themovies on weekends? According to the author, you’ll be able to get a seat inthe center of the theater for a few extra dollars. ? Movie theater exercise the value pricing method ? Value pricing is pricing of products according to theperceived value of a product or service? According to the article, America used to sell cheaptickets to travellers who flew when planes weren't full. ? Accordingly they used to sell the expensive ones to lastminute travellers. ? In a nut shell, the theater industry attempt to ignorethe laws of supply and demand can be related tocorporate inertiaWhat type of price discrimination isthis article describing? ? Price discriminating is selling goods and services at differentprices from the same provider ? The type of price discrimination is offering different priceswithin different time frame for the same service ? This according to the article depends with the number ofcustomersGraphical illustration of demandand supply ? The model below illustrates demand and supply for movie tickets duringweeknights whereby there is price discrimination price quantityGraphical illustration of demandand supply Cont’d ? According to the previous slide, the price of movietickets increases with the number of people attendingthe Cinemax.? During weeknights, most of the people want to relax fora movie and they opt to go out in the Cinemax. ? Due to the increased number of people during theweeknights the movie tickets rises up.? This trend goes contrary to the law of demand andsupply. Read the article provided and prepare a PowerPoint presentation on the issues addressed by the author Your presentation should have a minimum of 10 slides and three sources that you used to analyse the article. Use diagrams to support your work."