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Supply and Demand Charting
Can I chart supply and demand and show the a shift in either supply or
demand? I am basicaly looking to chart the following question. Draw a supply-demand diagram of the market for rental apartments in the neighborhoods surrounding a university. Illustrate the effect on monthly rents of a sharp decrease in state support of public higher education, combined with large increases in tuition and curriculum fees (assume that room and board fees in the dorms remain unchanged). Data would be as follows: Rent 800 1000 1200 1400 1600 Supply 200 300 400 500 600 Demand 600 500 400 300 200 Demand after increase 700 600 400 200 100 X Axis would be price Y Axis would be quantity Data series would show supply at given price, demand at given price and demand after increase at given price. |