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All things being equal, how strong would rivalry be between five bakeries that specialize in creating exclusive wedding-cakes? If other bakeries decided to enter the
All things being equal, how strong would rivalry be between five bakeries that specialize in creating exclusive wedding-cakes? If other bakeries decided to enter the specialty wedding-cake market, rivalry would increase. If 20% more people were planning to get married this spring, specialty bakeries would likely save money by using cheaper ingredients. If 20% more people were planning to get married this spring, specialty bakeries might raise their prices. If fewer people were getting married, these bakeries would need to compete more to attract customers. If one bakery offered very different products for the others, they would experience less rivalry
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