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Major determinants of price elasticity of demand

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Please write response to the following questions:

What are the major determinants of price elasticity of demand? Use those determinants and your own reasoning in judging whether demand for each of the following products is probably elastic or inelastic: (a) bottled water; (b) toothpaste; (c) Crest toothpaste; (d) ketchup; (e) diamond bracelets; (f) Microsoft's Windows operating system. Why is it important for a producer to know the elasticity of the demand curve he or she faces

Reference no: EM132240962

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