How does the price range affect the elasticity of demand for a product?

(A) Price range has little or no effect on elasticity of demand for a good.
(B) Demand for a good can be elastic at a low price but inelastic at a high price.
(C) Demand for all goods is elastic if the price is low enough.
(D) Demand for a good can be inelastic at a low price, but elastic at a high price.

Ans: (D) Demand for a good can be inelastic at a low price, but elastic at a high price.