The Course Data File contains the Product for this assignment.Research the product from an economic standpoint (include supply and demand, cost). Describe what has been happening in the product market over the last year. This section must be 1/2 page in length.Next, discuss trends in the overall Producer Price Index (PPI). Using the two most recent monthly Producer Price Index Detailed Report, create a graph or chart (not a table) using Excel that shows changes in the product’s INDEX over time (at least 4 months of data). Discuss the percentage change over time. Provide a brief description of each visual. How to Label Figures in APA Format (Research Required)This section must be 1/2 page in length (not including Excel visual).As a conclusion, analyze how producers reacted to price, demand, or supply changes. Explain it using economic terminology. (Research Required). This section will be 1/2 page in length.