You are an owner of a book store, and you meet with other neighborhood book store owners. Consider that books and library books 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? A. The supply of books will decrease. B. The quantity supplied of books will decrease. C. The supply of books will increase. D. The demand for books will increase. E. Demand for library books will decrease. F. The demand for books will not change.
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