7. A rm is selling in two separate markets, North and South, denoted by N and S. The elasticity of demand in market N is 1.5 and the elasticity of demand in market 5 is 3. Let PN denote the price that the rm charges in market N , and let Pg denote the price that the rm charges in market S. If the rm maximizes its prot, which price is larger7 PN or P3? How much larger is it? A. PN is twice as large as PS 3 PN is three times as large as PS C. P5 is twice as large as PN D. P3 is three times as large as PN