Supply and Demand Worksheet
Supply and Demand Worksheet NAME: ______________________
1. Create a demand graph using the following table of values:
|PRICE |QUANTITY |
|10 |500 |
|20 |450 |
|30 |400 |
|40 |350 |
|50 |300 |
|60 |250 |
|70 |200 |
2. Create a supply graph using the following table of values:
|PRICE |QUANTITY |
|10 |200 |
|20 |250 |
|30 |300 |
|40 |350 |
|50 |400 |
|60 |450 |
|70 |500 |
3. Using the graphs above, what is the quantity demanded if the price is $10? ____________
4. Using the graphs above, what would be the quantity demanded at a price of $80? _________. Why is the demand at $80 lower than it is at $10?
5. Create a graph by plotting the quantities both tables above into the graph below. Make the demand quantity plots one color and the supply quantity plots another color. After your plots are done, connect the lines and be sure to make the demand and supply lines different colors. At which point do the two lines intersect? What is the price of this intersection? This is how we determine what things are worth!
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