Question: 25. The demand function for a certain make of exercise bicycle sold exclusively through cable television is p = v's 0.01;: {D s a: 1:

25. The demand function for a certain make of exercise bicycle sold exclusively through cable television is p = v's 0.01;: {D s a: 1: son) where p is the unit price in hundreds of dollars and I is the quantity demandedfweek. a} Compute the elasticity of demand E. [1} Determine the range of prices corresponding to inelastic, unitary, and elastic demand. 26. Determine whether the statement is true or false: If the marginal prot function is negative at .'I = a. then it makes sense to decrease the level of production

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