Ballpoint pens manufactured by companies such as Pilat and Unoball require specially made pen refills to be used inside the pen once the ink runs out. Suppose you have bought a Pilat pen, the only pen refills that function with your pen are Pilat pen refills. In an effort to increase revenue, Pilat has increased the price of their pen refills earlier today. Select the item from the list provided to make the following statements true. A lack of substitutes for pen refills in your Pilat pen could lead to 1. budget for Pilat pen refills being inelastic. 2. revenue 3. distance As a student, if pen refills are a large percentage of your 4. opportunity cost your demand for Pilat pen refills would be more 5. necessary elastic. 6. profits If everyone in this Course needs to write a 25 page essay by hand 7. luxury today (assuming you can only use your Pilat pen), a short 8. both demand and supply since the price change would lead to demand being 9. supply more inelastic. 10. time 11. substitute 12. demand