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You are a junior executive of a new cellular phone carrier called Technologies of the Future (TOF) that competes in the same market as Verizon Wireless, AT&T, and T-Mobile. You have been asked to analyze supply and demand, market equilibrium, and market shortages and surpluses to determine the optimal price for TOF to charge for a phone. The task at hand is to graph the supply and demand curves in Excel using the values given below.
The graph should include a chart title, x-axis, y-axis, and contain a properly labeled equilibrium point.
Price
Quantity Demanded
Quantity Supplied
500
1200
200
600
1100
300
700
1000
400
800
900
1300
1400
1500
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