Which of the following is true regarding the price-demand relationship
A. If demand is inelastic, a small change in price will result in a large change in demand.
B. If demand is elastic, sellers will consider lowering their price.
C. Price elasticity measures how responsive price will be to a change in demand.
D. A demand curve shows the number of units a company will produce in a given time period at different prices that might be charged.
E. Demand and price are directly related dash- the higher the price, the greater the demand.
Answer: B. If demand is elastic, sellers will consider lowering their price.