Supply & Demand Charts
Phase I: You are going to create a table and chart displaying the prices, supply and demand for a product at
various levels. You will create an additional graph for each product choosing a shift in supply for one and
shift in demand for the other. This will be a total of THREE graphs. 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 5 price levels).
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:
Supply & Demand for Madden 2013
Price
$70.00
$60.00
Supply
Demand
$50.00
$40.00
$30.00
$20.00
$10.00
$1
2
3
4
5
Quantity (in millions)
At the end of phase I you will have one table and one graph, showing supply & demand for that product.
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.
4
$ 400.00
$ 200.00
5
$ 500.00
$ 100.00
Shift in Demand
$ 600.00
$ 300.00
$ 200.00
Price per iPhone
Quantity
Supply
Demand
Demand Shift for iPhone
1
2
3
$ 100.00
$ 200.00
$ 300.00
$ 500.00
$ 400.00
$ 300.00
700
600
500
400
300
200
100
0
$ 500.00
$ 400.00
Supply & Demand for iPhones
Demand for LG Dare, a substitute
product, fell due to poor quality
thus increasing demand at all price
levels for the Apple iPhone.
Demand
Shift in
Demand
Supply
1
2
3
4
5
Quantity (millions)
-----------------------------------------------------------------------------------Quantity
1
2
3
4
5
Demand
$70.00
$65.00
$60.00
$55.00
$50.00
Supply
$50.00
$55.00
$60.00
$65.00
$70.00
Shift in Supply
$55.00
$60.00
$65.00
$70.00
$75.00
Shift in Supply for Madden 2013
$80.00
Price per game
$75.00
$70.00
$65.00
Demand
$60.00
Supply
$55.00
Shift in Supply
$50.00
$45.00
$40.00
1
2
3
4
Quantity (millions)
5
Player rights have increased as a result of
Contract negotiations. This causes the price of
Madden games to be more expensive to
Produce for EA Sports and leads to a decrease
in Supply and increase in price levels.