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Consider the following equation that represents demand for health services (H) and another good (N), and Y represents the level of income. Q H =250,000

Consider the following equation that represents demand for health services (H) and another good (N), and Y represents the level of income.

Q_H=250,000 - 500P_H+ 1.50Y - 240P_N

The expected value of the variables is P_H = $200, Y = $60,000, and P_N=100

What is the level of quantity demanded?

What is the price elasticity of demand for health services?

What is the cross-price elasticity between H and N?

What is the income elasticity of demand?

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