One of the basics concepts in the economic class in the high school and in the university were the supply and demand law that is useful to know the price and the product quantity to satisfied a specific market
The supply and demand curve is usually plotted using the product price on the vertical axis and the quantity of the product on the horizontal axis. This time we will learn how to make a supply and demand curve in Excel.
In simple words, the law of supply refers to producers and to maximize their profits. Therefore, the higher the price of a product, the greater the amount that the product want to provide. And conversely, the lower the price the lower the quantity supplied. The following table contains the data to graph a supply curve in Excel:
To create the corresponding graph is sufficient to select any cell in the table and go to the Chart tab and select the button Line, then Marked Line. Now you must pay attention because it is very likely to get a graph like this: