In general, the price elasticity of demand for a product will be greater (a) the larger the number of close substitutes, (b) the greater the share of budget an item takes, (c) the more the item is considered to be a luxury, and (d) the narrower the market is defined (for example, a specific brand name vs. an entire market).Costco (www.costco.com) posts its sales (discount) items.Select at least 5 sales items, and evaluate the price elasticity of demand for each item.

Please help me to analysis 5 sales items, thank you! The following are samples:

1. Khombu Active Sandal

From Costco website, Khombu Active Sandal has $4 off. This product is considered to be elastic because it has a narrow market specifically for those who do outdoor activities. If the price of this item increases, potential consumers may switch to other brands or other alternatives such as shoes that have the same function. Also, it is considered as elastic due to availability of close substitutes. Maybe not as many but still available for potential consumers to find alternative.

2. Folgers Classic Roast Ground Coffee

Folgers Classic Roast Ground Coffee has $2.25 off. Even though the discount is not that much but this item is elastic because it has a lot of other close substitutes. Since there are a lot of other competitors and many substitutes that gives in caffeine such as tea, energy drinks and cocoa, consumers are likely to switch to these substitutes that will give the same effect when the price of coffee increases.