Table 3-1 -Refer to Table 3-1.The Table Above Shows the Demand Schedules

question 196

Multiple Choice

Table 3-1

-Refer to Table 3-1.The table above shows the demand schedules for Kona coffee of two individuals (Luke and Ravi) and the rest of the market.If the price of Kona coffee rises from $4 to $5,the market quantity demanded would

• A)decrease by 35 lb.
• B)increase by 115 lb.
• C)increase by 35 lb.
• D)decrease by 115 lb.

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Definitions:

Common Stock

Equities representing ownership interests in a corporation, entitling holders to dividends and voting rights.

General Journal

A comprehensive listing of all a company’s financial transactions, recorded in chronological order.

Cash Investment

Placement of funds into a venture or asset with the expectation of generating income or profit.

Cash Account

An account that reflects the amount of cash a company has on hand or in bank accounts, fundamental to the management of cash flows and liquidity.