Given a reference text about Philip, Duke of Parma, who were his parents?
Philip, Duke of Parma

Philip (Spanish: Felipe, Italian: Filippo; 15 March 1720 – 18 July 1765) was Duke of Parma from 18 October 1748 until his death in 1765. He was born a Spanish infante, being the second son of King Philip V and Elisabeth Farnese. The Duchy of Parma had been ruled by the House of Farnese, Queen Elisabeth's family. Philip founded the House of Bourbon-Parma, a cadet line of the House of Bourbon. He was a first cousin and son-in-law of the French king Louis XV.
Philip, Duke of Parma's parents were King Philip V and Elisabeth Farnese.
Instruction: Given a reference text about Philip, Duke of Parma, who were his parents?
Context: Philip, Duke of Parma

Philip (Spanish: Felipe, Italian: Filippo; 15 March 1720 – 18 July 1765) was Duke of Parma from 18 October 1748 until his death in 1765. He was born a Spanish infante, being the second son of King Philip V and Elisabeth Farnese. The Duchy of Parma had been ruled by the House of Farnese, Queen Elisabeth's family. Philip founded the House of Bourbon-Parma, a cadet line of the House of Bourbon. He was a first cousin and son-in-law of the French king Louis XV.
Response: Philip, Duke of Parma's parents were King Philip V and Elisabeth Farnese.