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on 07-03-2012 12:05 PM
From 2noggins link, above:
"If 2 or more hours have passed since you submitted a listing, you won't be able to change the duration of your listing."
on 07-03-2012 10:09 AM
If your listing does not have bids, you can always reduce the duration from 7 to 5 days, from 5 to 3 days etc.