What makes demand curves elastic or inelastic?

The demand for aspirin at currently prevailing prices seems to be highly inelastic. What do you think would happen to the elasticity of demand if the price of aspirin relative to everything else were five times as high? Why?

Is the demand for prescription drugs elastic or inelastic? Why?

The elasticity or inelasticity depends most importantly, on the price of the commodity. There are various other determinants of elasticity of demand that are the nature of the goods, the price of substitute goods, and the income of the consumer.

The elasticity of demand would be inelastic if the price of aspirin relative to everything else was five times as high because aspirin being a necessary good does not have a substitute. Therefore, if a doctor has prescribed aspirin, the consumer will purchase it irrespective of the price hike because it is necessary for that particular ill individual.

The demand for prescription drugs is inelastic because medicines are necessary good for any individual. Therefore, an increase in price will not lead to any change in the demand for drugs.