Question 2 (15 points): 1. Explain why the gross profit margin will always be below 100%. 2. Suppose the cost of goods sold is 20 thousands. Sketch the gross profit margin on the diagram below. Start with sales of 20 thousands. 1 0.9 0.8 0.7 0.6 0.5 0.4 0.3 0.2 0.1 Gross Profit Margin 0 0 50 100 150 200 250 300 Sales Thousands