Requirements: a. Correctly label the x-axis and y-axis with the terms price and quantity. b. Assign values for price and quantity along each axis. Consider the numbers in your data table and the size c example, you may want to label price in increments of 25. c. Create a title for your graph by choosing a good or service for the data to represent. d. Using the data table below, plot a demand curve and label the curve "D." e. Add a curve to your graph that represents a DECREASE in demand. Label the new curve "D1." f. Add another curve to your graph that represents an INCREASE in demand. Label the new curve "D2." Price (in whole dollars) 50 75 Quantity 900 800

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Directions: Using the data in the graph below, create a demand graph and complete steps a-f. You may choose one of the
following tools to create your graph:
a. www.desmos.com (online graphing tool)
b. Microsoft Excel (there are lots of YouTube videos about how to do this)
c. Draw it, take a photo of it, and upload the photo here.
Requirements:
a. Correctly label the x-axis and y-axis with the terms price and quantity.
b. Assign values for price and quantity along each axis. Consider the numbers in your data table and the size of your graph. For
example, you may want to label price in increments of 25.
c. Create a title for your graph by choosing a good or service for the data to represent.
d. Using the data table below, plot a demand curve and label the curve "D."
e. Add a curve to your graph that represents a DECREASE in demand. Label the new curve "D1."
f. Add another curve to your graph that represents an INCREASE in demand. Label the new curve "D2."
Price (in
whole dollars)
50
75
100
125
150
175
200
225
250
Attach File
Quantity
900
800
700
600
500
400
300
200
100
Transcribed Image Text:Directions: Using the data in the graph below, create a demand graph and complete steps a-f. You may choose one of the following tools to create your graph: a. www.desmos.com (online graphing tool) b. Microsoft Excel (there are lots of YouTube videos about how to do this) c. Draw it, take a photo of it, and upload the photo here. Requirements: a. Correctly label the x-axis and y-axis with the terms price and quantity. b. Assign values for price and quantity along each axis. Consider the numbers in your data table and the size of your graph. For example, you may want to label price in increments of 25. c. Create a title for your graph by choosing a good or service for the data to represent. d. Using the data table below, plot a demand curve and label the curve "D." e. Add a curve to your graph that represents a DECREASE in demand. Label the new curve "D1." f. Add another curve to your graph that represents an INCREASE in demand. Label the new curve "D2." Price (in whole dollars) 50 75 100 125 150 175 200 225 250 Attach File Quantity 900 800 700 600 500 400 300 200 100
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