2. Suppose the price elasticity of demand is 0.82, when the unit price of a product is set at $65. This means that: A. When the unit price is $65, demand will increase by 0.82% per 1% increase in unit price. B. When the unit price is $65, demand will drop by 0.82% per 1% increase in unit price. C. The demand is dropping by 0.82 item for every $65 increase in unit price. D. When the price of the product is $65, the demand is decreasing by 0.82% per dollar increase in price. E. None of the above