If we have a simple demand schedule and supply schedule, how do we plot it in excel?
I will be explaining this step-by-step with the help of a video.
The demand and supply schedule are not clear in the video so I have created one for your understanding.
PRICE IN DOLLARS | QUANTITY DEMANDED | QUANTITY SUPPLIED |
4 | 135 | 24 |
5 | 104 | 52 |
6 | 81 | 81 |
7 | 68 | 93 |
8 | 53 | 110 |
9 | 39 | 121 |
- First highlight the columns of price, quantity demanded and quantity supplied
- Click on "Insert" tab and click on Scatter graphs
- Choose smooth scatter graph or scatter with straight lines
- When you do this the price will not be on the y-axis. To fix that click on the right click on the graph. Then click on select data
- Select quantity demanded and click edit
- When you do that a box will appear which has three text boxes. In the first text box write quantity demanded
- In the second text box which asks you about the x values, highlight the quantity demanded column
- In the third text box which asks you about the y values, highlight the price column
- Repeat the above three steps for supply
- Now you will have price on x-axis and quantity on y-axis
- The supply and demand curve will intersect at a point which is your equilibrium point
This very well may have saved my paper getting done on time! Thank you!!!
ReplyDelete10. Price on y axis now !
ReplyDeletecurve yang menarik
ReplyDeleteini mudah dipahami
terima kasih infonya
Thank you for the excellent tutorial!! I needed this for an economics course for my MBA!!!
ReplyDeleteAfter struggling my backside off ,this definitely saved the day ... and my backside..
ReplyDeletehow do you get the data for quantity demanded and quantity supplied? thats where I'm having the most trouble.
ReplyDeleteThank you!
ReplyDeleteGrasias
ReplyDeleteThank you. You should be the first option for this issue.
ReplyDeleteHow do i add the E for equilibrium?
ReplyDeleteThank you soooo much! 💕
ReplyDelete