If a good is really unique and at the same Ame is cheap (consAtutes a small share of a consumer budget), the demand for the good is likely to be:
A. Elastic;
B. Inelastic;
C. Unit elastic;
⇒ If a good has few subsRtutes (like insulin) the demand is usually inelasRc; If the good constitutes a small proportion of the budget the demand is inelastic;
⇒ Other factor necessity or luxury good, Rme passes aeer the price change;