Q:

How do you graph a supply and demand curve in Excel?

A:

The best way to graph a supply and demand curve in Microsoft Excel would be to use the XY Scatter chart. A line graph is good when trying to find out a point where both sets of data intersects. A column chart is good for displaying the variation between the data.

Know More

Full Answer

To graph a supply and demand curve in Microsoft Excel in both versions 2010 and 2013, follow these steps. Replace the data used in the example below with the data that is available to you.

  1. Open a new spreadsheet in Excel
  2. In column A cell 1 put the word Price
  3. In column A cell 2 put Qs
  4. In column A cell 3 put Qd
  5. In column B cell 1 put 10
  6. In column B cell 2 put 200
  7. In column B cell 3 put 540
  8. In column C cell 1 put 20
  9. In column C cell 2 put 300
  10. In column C cell 3 put 480
  11. Add more data as needed
  12. Hover the mouse over the Insert tab in Chart group select Scatter and click the icon for Scatter with Straight lines.
  13. A chart will then appear with the Supply and Demand diagram
  14. It will automatically display the Price on the X-axis this will need to be changed. Put the Price on the Y-axis.
  15. To change the axis right click on the chart and click Select Data from the menu
  16. Make sure to highlight the first row, which is Qs
  17. Delete the data in the box that pops up for Series X and Series Y values
  18. Put the cursor in the Y value box and select the Price values
  19. Put the cursor in X values and highlight Qs
  20. Follow the steps to edit the data for Qd column this time
  21. Click OK and a chart will appear
Learn more in Software

Related Questions

  • Q:

    What is a cell in Excel?

    A:

    A cell in Microsoft Excel is a rectangular-shaped box on a worksheet. Any combination of numbers or words can be entered in the cell; however, Excel is generally used as a calculation tool.

    Full Answer >
    Filed Under:
  • Q:

    What are the advantages of using Excel?

    A:

    The advantages of using Microsoft Excel are that users can maximize the value of their data by building great charts, using conditional formatting, identifying trends, bringing data together and utilizing online access. Excel gives businesses strong tools, but can be equally helpful for individuals who need to process and manage personal data.

    Full Answer >
    Filed Under:
  • Q:

    How do I freeze cells in Microsoft Excel?

    A:

    To freeze cells in Microsoft Excel: open a worksheet, select the rows and columns that are to be locked, and then navigate to the Freeze Panes options from the View tab. From the list of options, select the most appropriate choice to freeze a single row, single column or multiples.

    Full Answer >
    Filed Under:
  • Q:

    How do you split cells in Excel?

    A:

    To split text into different cells in Microsoft Excel, select the cell or cells that you want to split. Click Data and then Text to Columns, and follow the prompts in the Convert Text to Columns Wizard to split the cells into multiple cells or columns.

    Full Answer >
    Filed Under:

Explore