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All things being equal, how strong would rivalry be between five bakeries that specialize in creating exclusive wedding-cakes? If one bakery offered very different products
All things being equal, how strong would rivalry be between five bakeries that specialize in creating exclusive wedding-cakes? If one bakery offered very different products for the others, they would experience less rivalry. 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 other bakeries decided to enter the specialty wedding-cake market, rivalry would increase. If fewer people were getting married, these bakeries would need to compete more to attract customers
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