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Unformatted text preview: PRINCIPLES OF ECONOMICS LAB SUPPLY AND DEMAND ANALYSIS I OBJECTIVES: The purpose of this lab is to use Excel to create tables and plots of the familiar supply and demand relationships. Excel s AutoFill, formula routines and graphical tools are used. Students will be able to apply these procedures to create tables and plots of other common economic relationships. I. Creating Supply and Demand Table (a) Open a new workbook in Excel and name the file Supply-Demand-Name. (Type your name for Name.) (b) Type Price in cell A2 and Qd in cell B2. (c) Generate a column of data ranging from 0 to 20 by increments of 1. Rather than entering each number, use Excel automatic fill function, called AutoFill, by typing 0 in cell A3 and 1 in cell A4. Highlight the two numbers and click on the bottom right corner of cell A4 and drag down until data point 20 appears. When you are done, the worksheet should look as follows: (d) The demand function well use is given by the equation...
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- Spring '09
- Supply And Demand