EarningShakespeare's Pizza is a very popular pizza place in Columbia, Missouri, that won Good Morning America's "Best Bites:College Edition" prize in 2 0 1 5 . However, it faces plenty of competition from other pizzerias in town, such as Pizza Tree, Gumby's, other local pizza places, and the big national chains. What would happen if Shakespeare's Pizza slightly raised the price of its pizzas? Shakespeare's Pizza would not lose any customers as it faces a perfectly inelastic demand curve. Shakespeare's Pizza should see a decrease in total revenue due to price increases. Shakespeare's Pizza could potentially lose some customers to its competitors, assuming its demand curve does not shift.It would lose all its customers to other pizza places as its pizzas are perfect substitutes for any other pizzas.