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Factors affecting price elasticity of demand are:
1. Number of close substitutes within the market - The more (and closer) substitutes available in the market the more elastic demand will be in response to a change in price.
2 Specific nature of Good - Necessities tend to have a more inelastic demand curve, whereas luxury goods and services tend to be more elastic.
3. Percentage of income spent on a good - It may be the case that the smaller the proportion of income spent taken up with purchasing the good or service the more inelastic demand ...
Response discusses the Factors affecting price elasticity of demand