1)For the following demand equation compute the elasticity of demand and determine whether the demand is elastic, unitary, or inelastic at the indicated price. (Round your answer to three decimal places.)

x=(-5/4)p+15; p=9

E(9)=

2)The demand function for a certain make of exercise bicycle sold exclusively through cable television is

p=90.02x (0x450)

wherepis the unit price in hundreds of dollars andxis the quantity demanded/week. Compute the elasticity of demandE(p).

E(p) =

Determine therange of prices corresponding to inelastic, unitary, and elastic demand.Hint:Solve the equationE(p) = 1.

inelastic=

unitary=

elastic=