Supply And Demand Graph And Analysis

Supply And Demand Graph And Analysis

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You are a junior executive of a new cellular phone carrier called Technologies of the Future (TOF) that competes in the same market as Verizon Wireless, AT&T, and T-Mobile. You have been asked to analyze supply and demand, market equilibrium, and market shortages and surpluses to determine the optimal price for TOF to charge for a phone. The task at hand is to graph the supply and demand curves in Excel using the values given below.

Your graph must be properly constructed; please use a scatter graph with markers or a scatter graph with smooth lines. The graph should include a chart title, x-axis, y-axis, and contain a properly labeled equilibrium point.

  • Identify the firm’s equilibrium price and quantity in the market.
  • Draw on your graph a price ceiling and a price floor and discuss what those terms mean. Explain which government-mandated price would result in a market shortage and a market surplus and why?
  • Calculate market shortages and market surpluses given the values from the graph based on the prices provided in the Price.docx. Be sure to define a market shortage and a market surplus.
  • Identify and discuss the price TOF should charge for its cellular phones.
  • Describe potential market failures that TOF could experience as a result of government policies.


Price                      Quantity Demanded                       Quantity Supplied

500                         1200                                                       200

600                         1100                                                       300

700                         1000                                                       400

800                         900                                                         500

900                         800                                                         600

1000                       700                                                         700

1100                       600                                                         800

1200                       500                                                         900

1300                       400                                                         1000

1400                       300                                                         1100

1500                       200                                                         1200


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