Question #52981

I am having problems plotting a supply and demand graph on excel just using an equation and also just creating graphs to show a shift in the demand or supply curve without any numbers. Also how to calculate relative price concerning two commodities.

Expert's answer

To plot a supply and demand graph on excel just using an equation you need to create a table with column "Q" and column "P" (in which you use equation provided to calculate P using Q). And then you should create a graph using points XY. If you need just creating graphs to show a shift in the demand or supply curve without any numbers, you need also to create a table, but with additional column for P1 (for the curve after the shift).

To calculate relative price concerning two commodities you just need to express one commodity using the other.

To calculate relative price concerning two commodities you just need to express one commodity using the other.

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