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Supply and demand excel chart

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Reference no: EM133131339

Look at the supply and demand of widgets as outlined 

Price (P):

$32

$28

$24

$20

$16

$12

$8

$4

$0

Quantity   Demanded (QD):

0

3

6

9

12

15

18

21

24

Quantity   Supplied (QS):

24

21

18

15

12

9

6

3

0
  1. Use Excel charts to show how the supply and demand curves would shift if the consumers would all of a sudden be willing to purchase 3 additional units (beyond what the above table suggests) at any given price, and at the same time that the sellers would reduce the amount that they would be willing to sell at any given price by 3 units.
  2. What might have caused the changes in supply and demand outlined in part A? Write a short essay that outlines the various reasons (i) why demand might possibly increase in this manner and also (ii) why supply might decrease this way. Your essay should incorporate your supply and demand excel chart that shows the shifts of the supply and demand curves and it should tie that chart to your answer.

Reference no: EM133131339

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