The graph input tool

The graph input tool

Some questions allow you to interact indirectly with a graph by manipulating a corresponding table of entries. In this type of question, you will not be graded on the final appearance of the graph, but rather you will use the graph to help you answer the questions that follow.

You can adjust the values in the accompanying table for fields with white backgrounds. Once you have selected a field, you can either enter a new value or adjust the existing value by selecting the arrows (+ to increase and - to decrease). You can exit the entry field by hitting Enter(or Return) on your keyboard or by selecting a place elsewhere on the problem. To reset a field to its starting value, select the circular refresh arrow that appears next to the selected field.

Experiment with entering different values in the editable fields. Observe what changes take place on the graph itself and also in the uneditable fields in the table. Don't worry about understanding the economics behind the question, just make sure you understand how to manipulate the values on the graph.

0183654729010812614416218060544842363024181260PRICE (Dollars per bottle)QUANTITY (Thousands of bottles of wine)DemandSupply144, 48

Graph Input Tool

Market for Wine
	Price (Dollars per bottle)
	Quantity Demanded (Thousands of bottles)			Quantity Supplied (Thousands of bottles)
	Surplus (Thousands of bottles)			Shortage (Thousands of bottles)

Demand Shifter	Supply Shifter
	Price of Champagne (Dollars per bottle)			Price of Grapes (Dollars per pound)

Reset the graph to the initial state. Then, for each action described in the following table, indicate which elements on the graph (if any) are affected. Check all that apply. (Note: After changing the value in each field, be sure to again refresh back to the initial value before proceeding to the next row in the table.)

	Demand Curve	Supply Curve	Green Line	Quantity Demanded	Quantity Supplied	Surplus	Shortage
Entering 33.00 into the Price of Champagnefield
Entering 3.00 into the Price of Grapesfield
Entering 60.00 into the Pricefield

True or False: You can reset the entire graph by selecting outside of the tool.

True

False