A bakery uses its resoruces to produce both cake and bread. When the price of bread rises, how does the bakery change what it produces? The bakery ____. A. Increases the quantity supplied of cakes. B. decreases the supply of bread. C. Increases the supply of cakes. D. Decreases the supply of cakes.

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Normal and Inferior Goods

Understanding a normal good and an inferior good is important because it tells us what will happen to demand different products during booms and recessions.