ters 1 - 6 Identify whether demand, in the case of each of the following products, is likely to be inelastic or elastic. a. The demand for a necessity with few close substitutes is likely to be (Click to select) v b. The demand for an item that represents a small portion of consumers' incomes and has few close substitutes (Click to select) v c. The demand for an item with many close substitutes and whose demand is being viewed over a long-run time (Click to select) v d. The demand for an item that represents a large portion of consumers' incomes and whose demand is being time frame is likely to be (Click to select) v