Consider the Quarterly Production Data (In Thousands of Units)for the XYZ

question 18

Essay

Consider the quarterly production data (in thousands of units)for the XYZ manufacturing company below. $$\begin{array} { l c c c } & { \text { Year } } \\\text { Quarter } & 1998 & 1999 & 2000 \\\text { Winter } & 9 & 21 & 25 \\\text { Spring } & 16 & 20 & 27 \\\text { Summer } & 16 & 30 & 34 \\\text { Fall } & 17 & 23 & 32\end{array}$$
-Calculate the average seasonal factor for each quarter

---

Definitions:

Free Entry

A market condition where firms can freely enter or exit the industry without facing significant barriers to entry.

Wheat

A cereal grain that is a staple food in many parts of the world, used to make products like bread, pasta, and pastry.

Monopolistically Competitive

Describes a market structure in which many firms sell products that are similar but not identical, allowing for some degree of market power.

Market Structure

The organization and characteristics of a market, including the number and size of sellers, product differentiation, and ease of entry and exit.