Economics - Microeconomics
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When you gather data note prices and number of cars at each station. Use the number of cars for all stations to calculate market share. Then plot market share against price.
I cannot figure out how to plot this in excel. Could you give me a quick tutorial in excel and show me how this is done. I have the data. See below.
Total number of cars 25
Gas Station 1 price 2.39--4 cars 16 % market share
Gas Station 2 price 2.40--5 cars 20 % market share
Gas Station 3 price 2.39--5 cars 20% market share
Gas Station 4 price 2.40--2 cars .08% market share
Gas Station 5 price 2.40--3 cars 12% market share
Gas Station 6 price 2.38--6 cars 24% market share
Please see attached file
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