You are a junior executive of a new cellular phone carrier called Technologies of the Future (TOF) that competes in the same market as Verizon Wireless, AT&T, and T-Mobile. The task at hand is to graph the supply and demand curves in Excel using the values given in the table below.

Price	Quantity Demanded	Quantity Supplied
100	1100	100
200	1000	200
300	900	300
400	800	400
500	700	500
600	600	600
700	500	700
800	400	800
900	300	900
1000	200	1000
1100	100	1100

Import the graph into a Word document and address the following.
Identify the firm’s equilibrium price and quantity in the market.
Calculate market shortages and market surpluses given the values from the graph based on the prices set by TOF. Be sure to define a market shortage and a market surplus.
Identify and discuss the price TOF should charge for its cellular phones.
From the graph derived, illustrate producer and consumer surplus. Please determine both producer and consumer surplus.

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