Big City Java Is a Local Coffee Bar

question 28

Multiple Choice

Big City Java is a local coffee bar. Using Excel, the manager of Big City Java estimates the weekly demand function for their grand mocha coffees to be Q^d = 650 - (15.25 × P) . The estimated regression equation suggests that if Big City Java increased its price of grand mocha coffees from $6 to $8, the predicted quantity demanded of coffees would _________.

• A)increase
• B)decrease
• C)not change
• D)exactly double

---

Definitions:

Irrevocable

Not able to be changed, reversed, or recovered; final and unalterable.

Withdrawn

The act of pulling back or removing a statement, offer, or proposal previously put forward.

Closely Held Corporation

A corporation that does not sell stock to the general public.

Majority Shareholder

An entity or individual that owns more than half of the shares in a company, giving them significant control over the company's decisions.