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The Changing Landscape of Papaya in NYC

I was downtown yesterday and saw that the Papaya King has become the latest of our competitors to raise its prices. They apologize profusely for it, attibuting it to the rising cost of ingredients, but the fact is it now costs 95 cents for a hot dog, as it does at many of the Papaya establishments around town. The question is why they would not raise prices to a dollar. The net efficiency lost in having to deal with nickels is substantial. It is hard to imagine the customer with an elasticity of demand that would lead them to make the purchase at 95 cents and not at a dollar. If equal or greater concern is that the King does not see fit to toast its buns. They warm them for a moment, but this approach cannot compare with the fully toasted bun that one finds at the true royalty of hot dog establishments, the Papaya Queen, where no attention to detail is spared and a frankfurter still costs only 75 cents.