Suppose that the price p of a product and its demand x are related through the price-demand equation 40p+x=5,000. What is the region for which the demand function is elastic?   Select the correct answer below:   62.5<p<125.   p>62.5   0<p<62.5   p>125.

Question

Suppose that the price p of a product and its demand x are related through the price-demand equation

40p+x=5,000.
What is the region for which the demand function is elastic?

62.5<p<125.

p>62.5

0<p<62.5

p>125.