Resource efficiency and survivability are critical concerns in elastic optical networks (EONs) with virtualization. In this paper, we investigate some important aspects in network survivability design against single-link failure under dedicated protection and bandwidth squeezing schemes when multiple virtual topologies are employed. We propose a link-path integer linear programming (ILP) formulation to solve the joint virtualization and survivability problem in elastic optical networks for large network instances, and derive some different types of protection for each virtual topology considering a channelbased spectrum approach to solve the spectrum allocation. Besides, we propose a heuristic to find a pair of predefined paths to ILP formulation aiming to minimize the link load. The proposed ILP and heuristic provide effective survivability solutions and spectrum resource savings for a cooperative design of modern survivable virtualized EONs taking advantages of a link-path model.