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 ofbudget 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.