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Why is it that we can assume that the price elasticity of demand for Noah's Bagels is inelastic? If the price pf a plain bagel at Noah's rises from 99 cents to $1.12, what can Noah expect to happen to the percentage of bagels purchased? What can Noah expect to happen to his total revenue earned after this price increase of the bagel? Why would a typical business desire a demand curve for its product that is as least elastic or as inelastic as possible?

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