Brian is a product manager for Bob$$s Bikes, a retail bicycle shop. Due to the Coronavirus, people had

cut back on their purchases of some outdoor recreational equipment, including bicycles. In order to

stimulate demand, Brian is considering lowering the price for the base model bike to stimulate

demand. Brian believes that if he lowers the price of the base model bike by $15\%,$ total sales

revenues of the basic bike will increase by $10-12\%.$ Brian is implicitly assuming that demand for the

base model bike is