Use the Data to Construct Supply and Demand Curves (Need it in 1 day)
Use the below link to create supply and demand curve for the element Silver
Research supply and demand curves for Silver.
Create an Excel® spreadsheet in which you do the following:
- Create a supply curve for Silver
- Create a demand curve for Silver.
- Calculate the average cost of silver in your local area.
- Calculate the standard deviation.
Determine whether the prices in your area are higher or lower than the world average.
Create a 700-word proposal in which you include the following:
- Explain elasticity of supply and demand and how this relates to the pricing decision of silver.
- Will the price increase or decrease in the future?
- Defend the pricing decision including all supporting documentation.
Cite a minimum of two scholarly references not including your text.
*The attached is an example of the supply and demand using excel and graph.