Consider some determinants of the price elasticity of demand: The availability of close substitutes . Whether the good is a necessity or a luxury How broadly you define the market The time horizon being considered A good without any close substitutes is likely to have relatively the price of the good rises. demand, since consumers cannot easily switch to a substitute good If A good's price elasticity of demand depends in part on how necessary it is relative to other goods. If the following goods are priced approximately the Same, which one has the most elastic demand? Amputation procedures for diabetes sufferers O Sports Car w The price elasticity of demand for a good also depends on how you define the good, Organure the goods found in the following table by indicating which is key to have the most elastic demand, which is wy to have the beast elastic demand, and which will have demand that falls in between Categories Most Elastic In Between Least Elastic Red bell peppers Food O o O O O Vegetables The price elasticity of demand is also affected by the given time horizon elastic in the short run than in the long run Other things being equal, the demand for natural gas will tend to be