Other things equal, the demand for a good tends to be more inelastic when

A) there are fewer available substitutes.
B) a longer time period is considered.
C) the good is considered a luxury good.
D) the market for the good is more narrowly defined.

Inelastic

Describes a situation where the demand or supply for a good or service is relatively unresponsive to changes in price.

Available Substitutes

Alternative products or services that consumers can use to satisfy the same needs or desires as the product or service in question.

Luxury Good

A product or service that is not essential but is highly desired and associated with wealth or high social status.