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You are an owner of a bakery, and you meet with other neighborhood bakery owners. Consider...

You are an owner of a bakery, and you meet with other neighborhood bakery owners. Consider that fresh baked goods and processed baked goods are substitutes. In an attempt to increase sales, you collectively decide to lower prices by 10%. Which of the following are consequences of this price change?

Choose one or more: A. The quantity supplied of fresh baked goods will decrease. B. The supply of fresh baked goods will increase. C. The supply of fresh baked goods will decrease. D. Demand for processed baked goods will decrease. E. The demand for fresh baked goods will not change. F. The demand for fresh baked goods will increase.

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