ECO 1102 Lecture Notes - Lecture 8: Demand Curve, Economic Equilibrium, Softwood

• School: University of Ottawa
• Department: Economics
• Course: ECO 1102
• Professor: David Gray

Document Summary

The assignment has 3 questions, each with multiple parts. This is a written assignment, and i expect all answers to include full sentence answers. Each part is relatively short, and i would expect that each part can be answered with 3 or 4 sentences, with a graph and/or calculation if required. Take some extra time to write your answer legibly. Your assignment should have a title page that includes your name and student number. There are 64 possible points, and the assignment is worth 7. 5% of your final grade. The assignment is due wednesday, october 29th, in class. Steve"s music in ottawa sells gibson guitars for 2,000 dollars each. At this price the store sells 150 guitars a year. Steve, the owner, believes that guitar players who choose the gibson brand are very brand loyal and would be willing to pay more for these guitars.