What factor does NOT affect price elasticity of demand (PED)?

Price elasticity of demand (PED) measures how responsive the quantity demanded of a good is to a change in its price. The correct answer focuses on a factor that typically does not influence this responsiveness.

The availability of close substitutes significantly impacts PED. If a good has many substitutes, consumers can easily switch away if the price rises, leading to a higher elasticity. The proportion of income spent on a good also plays a crucial role; if a good represents a large portion of a consumer's income, demand tends to be more elastic as consumers are more sensitive to price changes. Additionally, the durability of a good can affect demand over time; for example, if a product is durable, consumers may delay their purchases when prices increase, suggesting a higher elasticity.

The flavor profile of a good, while it may influence consumer preference, does not directly affect the overall measure of price elasticity in the same way the other factors do. PED is generally more influenced by how easily consumers can find alternatives or how significant the good is to their overall budget. Therefore, the flavor profile is not a key determinant of price elasticity in the same way as the factors listed in the other options.