Final answer:
The element that is oxidized in this reaction is Copper (I) ions.
Step-by-step explanation:
In the given unbalanced equation:
Cu+ + Fe → Cu + Fe2+
The element that undergoes oxidation is the one that increases in oxidation number. In this case, the oxidation number of copper increases from +1 to 0, while the oxidation number of iron decreases from 0 to +2.
Therefore, the element that is oxidized in this reaction is Copper (I) ions (Option 1).