Prepare a Trend Analysis of the Following Data Using Year

question 2

Essay

Prepare a trend analysis of the following data using Year 1 as the base year.Place your answers in the chart provided.Comment on the trend.

$\begin{array}{|lrrr|} \hline& \text { Year 3 } & \text { Year 2 } & \text { Year 1 } \\& & & \\\text { Net sales } & \$ 108,000 & \$ 110,000 & \$ 100,000 \\\text { Gross margin } & 61,040 & 58,800 & 56,000 \\\text { Net income } & 9,600 & 10,800 & 10,000 \\\hline\end{array}$

$\begin{array}{|l|l|l|l|} \hline& \text { Year 3 } & \text { Year 2 } & \text { Year 1 } \\\text { Net sales } & & & \\\text { Gross margin } \\\text { Net income }\\\hline \end{array}$

Recognize the role of information conveyed by advertising in economic decision-making.

Grasp the criticisms and defenses of advertising in a monopolistically competitive market.

Analyze the implications of monopolistic competition on consumer choice and product diversity.

Explain the short-run and long-run equilibrium positions of firms in monopolistic competition.

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