If elasticities for a bottle of water are -0.8 and -1.2 in two different locations and marginal cost is the same, which location is likely to charge higher price for the bottle of water?
a. Location with lower price elasticity because buyers would be less sensitive to price
b. Location with lower price elasticity because buyers would be more sensitive to price
c. Location with higher price elasticity because buyers would be less sensitive to price
d. Location with higher price elasticity because buyers would be more sensitive to price