1. To insert a demand curve in Word, first open the document where you want to include the graph and then click on the Insert tab. In the Text Box area, type in "Demand Curve" and then press Enter.
  2. Next, select the Graph Type option from the menu that appears and choose either a Static or Dynamic graph. If you choose a Static graph, Excel will create an exact copy of your data table; if you choose a Dynamic graph, Excel will calculate new values for each row as you enter them into the text box.
  3. Click on the X-axis heading to change it to Demand (Qty) and then click on the Y-axis heading to change it to Price ($.0.

How to format the inserted curve?

Demand and Supply Curves:

In economics, a demand curve is a graph of the quantity demanded (QD) against price (P). It shows how much more or less people are willing to buy at different prices. A supply curve is a graph of the quantity supplied (QS) against price (P). It shows how much more or less producers are willing to sell at different prices.

To create a demand and supply curve in word, you will first need data on QD and QS. You can find this information by surveying market participants or by conducting market research. Once you have your data, you can insert it into an Excel spreadsheet and draw the curves using Microsoft Excel's Graph Tools. Here's how:

• Size: Use this slider to change the size of each graph; larger graphs will be easier to read but may take up more space on your screen than smaller graphs do. • Axis Labels: Use these buttons to add labels for both axes; once they're added, they'll appear in both windows as well as in any charts that you create based on these curves later on in this tutorial series.* • Data Formatting: Use these buttons to change how column headings are displayed; options include percentages (%) , dollar signs ($), commas (), dashes (-), parentheses (), ampersand (&), ordinal numbers (>, >), ranges (*[], [to]), dollars ($) , fractional numbers (.5[], .7[], etc.), exponential notation e(x+y)/10^x , scientific notation E(x+y)/10^x , currency symbols $,[£][$]{0}, yen yen symbol ¥ ), text styles Plain Text*, Bold*, Italic* (*where applicable):

After adjusting these settings, click OK again to return to your graphs.]* *Note that if you'd like other users who access your workbook via SharePoint 2010/2013 Web Parts enabled for editing chart types also able not only see but edit axis labels when working with charts created from this sheet using Chart Viewer controls located under Chart Tools -> Series & Filters tabs -> Edit Series Formats Buttons dropdown list box while viewing worksheet cells containing plotted values within worksheet cells themselves rather than relying upon aforementioned Chart Viewer controls which must be invoked separately from within cell content itself whenever charting is desired.)

  1. Open Microsoft Excel and select the "Sheet" tab on the ribbon.
  2. Click on "Graph Tools" from the Ribbon menu bar and select "Demand Curve."
  3. Enter your data into Column A (QD) and Column B (P), respectively, then click on "OK."
  4. To create a supply curve, repeat steps 2-3 but enter your data into Column C (QS) and Column D (P), respectively.
  5. To view your graphs, double-click on either Demand Curve or Supply Curve in the Graph Tools panel to open its respective window; then use the buttons below each window to adjust various settings as needed:

What is the best way to label the axes on the graph?

The best way to label the axes on the graph is with price and quantity. The x-axis should be labeled "Price" and the y-axis should be labeled "Quantity." The best way to draw the demand and supply curve is by using a Venn diagram. To do this, first create a pie chart of all of the possible combinations of price and quantity. Next, use a line to connect each price point on the pie chart with its corresponding quantity point on the pie chart. Finally, use a circle to represent total demand at each price point and use an arrow to represent total supply at each price point.

Where do I find historical data for supply and demand?

There are many sources of historical data for supply and demand. One way to find data is to look at government reports or statistics. Another way to find data is to look at newspapers or other publications that discuss economics. You can also use online resources, such as economic calculators or websites that provide graphs and charts about the economy. Finally, you can ask your professor or a friend who is knowledgeable about economics for help finding data on supply and demand.

How do I know what units to use on my axes?

The first step in drawing a demand and supply curve is to decide what units to use. The most common unit of measure for demand and supply is quantity demanded (QD) and quantity supplied (QS). However, you can also use other units such as pounds, gallons, or number of items.

Next, you need to figure out the slope of the demand and supply curve. This slope tells you how much change in quantity demanded or supplied there is for every 1% change in price. The slope of the demand and supply curve will be different for each type of good or service. For example, the slope for QD might be positive while the slope for QS might be negative.

Once you have determined the slope of the demand and supply curve, you can draw it on your graph using a straight line. You can also add points along the line to show how quantities vary with changes in price. Finally, you can label both axes with the appropriate terms: QD on one axis and QS on the other axis.

Is there a difference between drawing a market demand curve and an individual demand curve?

There is a big difference between drawing a market demand curve and an individual demand curve. A market demand curve shows the quantity of a good or service that consumers are willing to purchase at different prices. An individual demand curve shows the quantity of a good or service that consumers are willing to purchase at different incomes.

The main difference between market and individual demand curves is that market demand curves reflect how much people are willing to pay for a good or service, while individual demand curves reflect how much people are willing to pay for the same good or service when their income changes.

For example, if you were selling ice cream, you would want to know what price point would make customers buy as much ice cream as possible. If you were selling ice cream cones, you would want to know what price point would make customers buy as many cones as possible.

Market Demand Curve: The Market Demand Curve is shown by the intersection of the supply (Q) curve and the marginal revenue (MR) curve. This graph illustrates how much consumers are willing to pay for a particular quantity of goods or services in relation to their marginal cost (MC). In other words, it tells us how much profit producers can earn from producing more goods or services up until where buyers are no longer interested in purchasing any additional units at that given pricepoint due to increasing competition from other sellers who have also increased production. At this point on the MR-Q graph, producers will start losing money by producing any more units because they will be earning less than what they paid for inputs such as land, labor etcetera which went into producing those units beyond Q1 on the MC-Q diagram below:

Individual Demand Curve: The Individual Demand Curve is shown by the intersection of the supply (Q) curve and each consumer's willingness-to-pay (WTP) line corresponding with his/her income level. This graph illustrates how much each person is willing and able to spend on a particular quantity of goods or services relative to his/her income level*. It tells us how profitable it will be for producers supplying these goods or services up until where buyers reach their maximum spending limit*, which occurs when WTP equals MR*.

How do I shade in the area of consumer surplus/producer surplus/deadweight loss?

  1. In order to shade in the area of consumer surplus/producer surplus/deadweight loss, you will need a pencil and paper. On your paper, draw a horizontal line to represent the market demand curve. Then, sketch in the area representing consumer surplus (the green part of the graph). Next, sketch in the area representing producer surplus (the blue part of the graph). Finally, shade in the deadweight loss zone (the black part of the graph).
  2. Now that you have drawn in these areas, it is time to figure out how much each party benefits from this tradeoff. To do this, you will need to understand marginal revenue and marginal cost. Marginal revenue is simply how much more money an individual or company makes from selling an additional unit of a good or service. Marginal cost is what it costs an individual or company to produce an additional unit of a good or service.
  3. When looking at marginal revenue and marginal cost for both consumers and producers, it is important to remember that they are always changing depending on the price of goods and services on the market. For example, if there is a decrease in prices on goods and services on the market then consumers will benefit because their marginal revenue has increased while producers will lose money because their marginal cost has decreased (marginal cost decreases as prices fall). Conversely, if there is an increase in prices on goods and services then consumers will suffer because their marginal revenue has decreased while producers gain money because their marginal cost has remained unchanged (marginal cost increases as prices rise).

What factors can shift either the demand or supply curve?

What is the equilibrium price?What determines the quantity demanded at a given price?What determines the quantity supplied at a given price?How can you use demand and supply to analyze markets?

Demand and Supply: An Overview

When people buy or sell goods, they are actually interacting with two curves. The first curve, known as the demand curve, shows how much of a good people are willing to buy at different prices. The second curve, known as the supply curve, shows how much of a good producers are willing to sell at different prices. Together these two curves tell us everything we need to know about how well each type of market works.

The Demand Curve

The demand curve is shaped like an upside-down U. It shows how much people are willing to pay for a particular amount of a good (in terms of units). As you move up the U, buyers become more interested in buying more of the good while sellers become less interested in selling it. At point A on the graph, buyers are willing to pay $10 for every unit of product offered; at point B buyers are only willing to pay $5 for every unit.

The Supply Curve

The supply curve is shaped like an upside-down V. It shows how much producers are willing to sell at different prices (in terms of units). As you move up the V, producers become more interested in selling more of the good while buyers become less interested in buying it. At point A on the graph, producers are only willing to sell 1 unit for every 2 units asked for; at point B producers are ready and able to sell 3 units for every 4 units asked for.

Together these two curves tell us everything we need to know about how well each type of market works:

  1. When people want more goods than what's available on offer (the demand exceeds what's available), prices go up until there's enough inventory available and everyone is happy again (point A on diagram). This happens when there's too little production or too much consumption happening - it doesn't matter which one it is!
  2. When people want less goods than what's available on offer (the demand falls short), prices go down until there's enough inventory available and everyone is happy again (point B on diagram). This happens when there's too much production or not enough consumption happening - it matters which one it is!
  3. In between points A & B lies all other market conditions - this where things get interesting! If too many suppliers enter into an area making products that consumers want but can't find anywhere else (like during an economic recession), then prices will drop below where they were before because now consumers have no choice but purchase from those suppliers who still have stock left over from before (point C on diagram). Conversely if too few suppliers enter into an area making products that consumers want but can't find anywhere else then prices will rise above where they were before because now consumers have no choice but purchase from those suppliers who do have stock left over from before (point D on diagram).

In what ways can policy affect supply and demand curves?

Policy can affect supply and demand curves in a number of ways. For example, if the government imposes a tax on goods, this will increase the cost of those goods and make them less available to consumers. This will cause the demand for those goods to decrease, as consumers switch to cheaper alternatives. Conversely, if the government subsidizes certain products or allows them to be sold at lower prices than other products, this will increase the availability of those products and lead to an increase in their demand. Overall, policy affects supply and demand curves by changing both how much of a good is available and what people are willing to pay for it.

If both curves shifted left, would that necessarily mean prices increased, decreased, or could stay the same?

When graphing the demand and supply curves, it is important to keep in mind that they are always shifting left. This means that if the curves shifted left, this would necessarily mean prices increased. If the curves shifted right, this would mean prices decreased. However, it is possible for prices to stay the same if both curves shift to the right. In order to determine whether or not prices have increased or decreased, it is necessary to look at other factors such as quantity demanded and quantity supplied.

If one good has a downward-sloping demand curve while another has an upward-sloping demand curve, does that necessarily mean that the two goods are substitutes or complements?

No, it does not necessarily mean that the two goods are substitutes or complements. The demand curve for a good can be downward-sloping if people want less of the good as prices increase, or it can be upward-sloping if people want more of the good as prices increase. It depends on how consumers use and value the two goods. For example, coffee is a substitute for tea because people drink coffee in place of tea throughout the day. However, gasoline is not a substitute for food because people eat food to provide energy rather than drinking gasoline.

The demand curve for a good can also be shaped differently depending on whether it is an essential good or an luxury good. Essential goods are necessities that people cannot do without, such as water and air. Luxury goods are optional items that people can choose to purchase or not purchase, such as clothes and cars. When the demand for an essential good increases due to higher prices, its demand curve will typically slope downwards (in contrast, when the demand for a luxurygood increases due to higher prices its demand curve will typically slope upwards). Conversely, when the demand for an essential good decreases due to lower prices its demand curve will typically slope upwards (in contrast, when the demand for a luxurygood decreases due to lower prices its demand curve will typically slope downwards).

In general terms, when one type of product has a downward-sloping supply curve while another type has an upward-sloping supply curve this usually means that these products are substitutes but there are exceptions where they may also be complements depending on how each type is used by consumers.

Can anything be done to change an inelastic good into an elastic good (or vice versa)?

There is no one definitive answer to this question. Some factors that could change an inelastic good into an elastic good (or vice versa) include increasing the price, decreasing the quantity supplied, or introducing a new substitute for the original inelastic good. Additionally, changes in technology or market conditions could also lead to an elasticity shift. It is important to remember that while demand and supply curves can be used as a tool to understand market behavior, they are not static entities; they will change over time as different factors impact the market.