Convexity is a desirable feature of bonds because.

a. As interest rates decline, the price of a low convexity bond increases at a decreasing rate.

b. As interest rates decline, the price of a high convexity bond increases at an increasing rate.

c. As interest rates decline, the price of a high convexity bond decreases at a decreasing rate.

d. As interest rates decline, the price of a high convexity bond decreases at an increasing rate.

e. As interest rates decline, the price of a low convexity bond decreases at a decreasing rate.