Price elasticity of demand depends on a few factors. You are supposed identify those factors for the following pairs of goods and explain which good is expected to have more elastic demand and why?

a)School books or fiction novels.

b)DVDs of music composed by A. R. Rehman or DVDs of Music in general.

c)Bus rides during the next 5 months or bus rides during the next 5 years.

d) Expensive strawberry smoothie or water.