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Other things equal, the demand for a good tends to be more inelastic, the: 
 
(i) fewer the available substitutes. 
(ii) longer the time period considered. 
(iii) more the good is considered a luxury good. 
(iv) more narrowly defined is the market for the good. 

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Lelia Lubowitz
Lelia LubowitzLv2
21 Jan 2020

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