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DoughCrust Bread is a normal good produced by the DoughCrust Bakery. What will happen to the equilibrium price and quantity of DoughCrust Bread in each
DoughCrust Bread is a normal good produced by the DoughCrust Bakery. What will happen to the equilibrium price and quantity of DoughCrust Bread in each of the following situations
(a)Due to a recession, households that buy DoughCrust experience a decrease in income.
(b)The cost of wheat used in DoughCrust increases significantly.
(c)DoughCrust buys improved ovens that reduce the costs of DoughCrust bread.
(d)Luvly loaf, a rival,cut the price of the bread.
(e)Consumers become health conscious and switch to low- calories bread.
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