Download Supply-Demand Assig

Supply & Demand Charts
Phase I: You are going to create a table and chart displaying the prices, supply and demand of
TWO separate products at various levels. You may work with 1 partner if you wish to help
complete all aspects of this project. Apply the information from the handouts in class to aid you
in the creation of this information. Use the following information and format for each product
you choose to chart:
Create a table to display quantity supplied & demanded (min. of 3 price levels if indiv/5 if in
group)
Quantity
Supply
1
$ 20.00
2
$ 30.00
3
$ 40.00
4
$ 50.00
5
$ 60.00
Demand
$ 60.00
$ 50.00
$ 40.00
$ 30.00
$ 20.00
Create a graph plotting out the above points, w/ axis titles, a chart title and a legend:
At the end of phase I you will have two tables and two graphs, both showing supply & demand.
Over
Phase II: You need to create one table and one graph showing a shift (left or right) in the
demand curve and explaining why this shift occurred. You will also need to do the same for one
of the supply curves. See the examples below showing (A) a shift in demand and (B) a shift in
supply. Phase II will have 2 tables and 2 graphs.
Quantity
Demand
Demand for iPhone
5
10
15
$ 500.00 $ 400.00 $ 300.00
20
$ 200.00
25
$ 100.00
Shift in Demand
$ 600.00
$ 300.00
$ 200.00
$ 500.00
$ 400.00
Demand for LG Dare, a substitute
product, fell due to poor quality
thus increasing demand at all price
levels for the Apple iPhone.
-----------------------------------------------------------------------------------Quantity
Supply
Shift in Supply
Supply for iPhone
5
10
15
20
25
$500.00 $400.00 $300.00
$200.00 $100.00
$600.00 $500.00 $400.00 $300.00 $200.00
Due to an increase in demand at all
price levels, Apple will supply
more iPhones at all prices thus
shifting the supply curve to the left.
For extra credit any student may create additional graphs for different products showing the
supply, demand and shift in either of those for a specified reason.