The Demand Function for a Certain Make of Exercise Bicycle

question 95

Multiple Choice

The demand function for a certain make of exercise bicycle sold exclusively through cable television is , where p is the unit price in hundreds of dollars and x is the quantity demanded/week. ​
Compute the elasticity of demand and determine the range of prices corresponding to inelastic, unitary, and elastic demand.
​

• A) ; for demand is inelastic; for demand is unitary; for demand is elastic
• B) ​ ; for demand is inelastic; for demand is unitary; for demand is elastic​
• C) ​ ; for demand is inelastic; for demand is unitary; for demand is elastic​
• D) ​ ; for demand is inelastic; for demand is unitary; for demand is elastic​

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Definitions:

Alfred Dreyfus

A French Jewish artillery officer whose wrongful conviction for treason in 1894 sparked a significant political controversy, known as the Dreyfus Affair.

Treason

The act of betraying one's country, specifically by attempting to overthrow the government or harm or kill its sovereign.

French-Jewish

Pertaining to Jewish individuals or communities residing in France or having French citizenship.

Mayor

The elected head of a city, town, or other municipality, responsible for implementing and enforcing local laws and policies.