We have two .22 LR rifles which wear Bushnell 4x fixed optics. I also found them at Sports Authority on sale for <$50. They did come in a clam pack but they had a good warranty and Sports Authority had a good return policy so I felt ok about them. They have held up under a variety of field and range conditions from approx 0 degrees F with no humidity to >100 degrees F with high humidity. My wife and I both qualified as "riflemen" at Appleseed with the optic (after I came up one point short on the irons!).
With optics, "there ain't no such thing as a free lunch." If you want decent quality but low price I suggest going with a fixed power; the variable power will cost you more or will ding the quality. The 4X is about the most you need for just about any .22 LR task. I'd keep my eyes open for something in the $30-50 price range, on sale, with 4x fixed power, from a major manufacturer. You'll probably be ok. If you have a more demanding application then you'll want to spend more. I think you can get away with less generous eye relief on the .22 LR based on the low recoil. I wear glasses so I am sensitive to eye relief (too little relief + too much recoil = glasses in face) but it just isn't an issue with the .22 LR. I think that opens up some lower priced options.
I own a Bushnell Elite on a centerfire and we have two Leupolds in our house plus an Aimpoint as well, and the cheap Bushnells are perfectly serviceable on the .22s. The more expensive optics are obviously higher quality but the .22 Bushnell optics get the job done.
