Final answer:
Non-price factors such as temperature, fuel prices, and holidays can cause the demand curve for Walmart's products to shift, affecting sales volume and equilibrium price. These factors can be represented graphically in Excel by plotting new positions of the demand and supply curves, showing the change in equilibrium. Understanding these shifts helps analyze the impact of market dynamics on sales.
Step-by-step explanation:
To understand how non-price factors such as temperature, fuel prices, and the number of holidays affect the weekly sales of Walmart, we need to analyze shifts in the demand curve and the supply curve within a demand and supply model. For instance, an increase in temperature could increase the demand for summer clothing and cooling products, shifting the demand curve to the right. Conversely, higher fuel prices may decrease consumers' disposable income, reducing the demand for non-essential goods and shifting the demand curve to the left. During holidays, demand may increase due to more people shopping for gifts, which would also shift the demand curve to the right.
To accurately represent these shifts graphically using Excel, one can plot the initial demand and supply curves and then add new curves to reflect the changes in demand or supply, indicating the new equilibrium price and quantity. For example, a rightward shift in the demand curve will usually show an increase in quantity sold at a higher equilibrium price, assuming supply remains constant. This illustrative method helps visualize the correlation between market dynamics and non-price factors off the axes.