food and nutrition


Supply

Question: How to create a supply and demand graph? Draw supply and demand graphs that estimate what will happen to demand, supply, and the equilibrium price of pizza if the following events occur: 1. Consumer income declines. How do I create a supply and demand graph in Excel?

Answer: In excel, make three columns of information like this: (blank) SupplyDemand 101060 202050 303040 404030 505020 606010 This means that at Q=10, the suppliers are willing to sell at P=10 and consumers are willing to buy at P=60. Note that the first column is unlabled. Then use Excel's chart wizard...choose line graphs. That should get you a basic supply/demand graph. You can select options to label the axes as P and Q. Hopefully that will get you started.


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