Answer to Question #52120 in Microeconomics for Asif

Question

Project the sale for the next eight years:
Years: 1965 1966 1967 1968 1969 1970 1971
Sales in dollars: $120 $140 $120 $150 $170 $190 $210

Draw the graph and interpret the future conditions

Answer 1

The sales for the years 1965-1971 were as follows:
Years: 1965 1966 1967 1968 1969 1970 1971
Sales in dollars: $120 $140 $120 $150 $170 $190 $210
As during years 1967-1971 the sales increased by $20 annually, then the sales for the next eight years will be:
Years: 1972 1973 1974 1975 1976 1977 1978, 1979
Sales in dollars: $230 $250 $270 $290 $310 $330 $350.