What are the determinants of resource price elasticity?

Price elasticity means the responsiveness of price to the change in quantity demanded/supplied. Accordingly, the determinant of resource price elasticity is the following;

• Production Time and Goods Inventory - It means that the shorter the production time, the higher the Price Elasticity. Also, the less perishable the goods are the higher Price Elasticity.
• Excess Capacity - It means that the slower the output level, the higher the excess capacity, the higher the Price Elasticity.
• Time Period - It means that the longer the time period after an increase in the price of a good, the higher the Price Elasticity.
• Mobility of Resources - The higher the mobility resources, the higher the Price Elasticity.