Create a demand schedule and a supply schedule for your product.

Using these schedules, draw a demand curve and a supply curve using PowerPoint or Excel. Use these to determine the equilibrium price and equilibrium quantity for the product.

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Demand Schedule:

Price per Gallon            Amount Supplier Will Produce At Price                      Gallons Demanded At Price

$1.00                                                    10                                                                    50

$2.00                                                    20                                                                    40

$3.00                                                    30                                                                    30

$4.00                                                    40                                                                    20

$5.00                                                    50                                                                    10