During spring break, students have an elasticity of demand for a trip to Florida of -3, while senior citizens have an elasticity of demand for a trip to Florida of -6. What pricing insight does this give to the airline companies?

Group of answer choices

Charge a lower price to the senior citizens because they have a relatively more elastic demand.

Charge a lower price to the students because they have a relatively more inelastic demand.

Charge a higher price to the senior citizens because they have a relatively more inelastic demand.

Charge a higher price to the students because they have a relatively more elastic demand.