Which of the following statements correctly characterizes the following compound? 
Definitions:
Availability of Substitutes
The presence of alternative goods or services that consumers can use in place of another.
Inelastic
Describes a situation where the demand or supply for a good or service is not significantly altered when the price of that good or service changes.
Total Revenue
The total amount of money received by a company for goods sold or services provided during a certain period of time.
Quantity Demanded
The total amount of a good or service that consumers are willing and able to purchase at a specific price level.
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