Micro foundations of the Phillips Curve

In a typical NKPC:

$$Inflation_t = \alpha_1 Inflation_{t-1} + (1-\alpha_1) \mathbb{E}_tInflation_{t+1} + \alpha_2 RealMarginalCost + \epsilon_t$$

From a micro-foundations perspective, does the parameter $$\alpha_2$$ (the slope of the NKPC) depends on the elasticity of demand since it is a markup over the marginal cost?