The Snow City Ski Resort caters to both out-of-town skiers and local skiers. The demand for ski tickets of out-of-town skiers is given by Qo = 600 - 10 Po, while the demand for ski tickets of local skiers is given by Ql = 600 - 20 Pl . The marginal cost of servicing a skier of either type is $10. If Snow City Ski Resort (third-degree) price discriminates then at the profit maximizing prices, the price elasticity of demand is:
1. -3 for local skiers
2. -1.4 for out-of-town skiers
3. the same for local skiers and for out-of-town skiers
4. None of the above