QUESTION 17 *Each blank is worth 5 points* Suppose the following equation estimates the demand for Oatmeal in the state of Maryland: QOatmeal = 2000 - 50*POatmeal + 100*PGranola + 2*Income where POatmeal is the price of a box of oatmeal in dollars, PGranola is the price of a box of granola in dollars, and Income is the median household income of the state of Maryland in thousands of dollars. The current price of oatmeal is $5 per box, the current price of granola is $6 per box, and the median income in the state of Maryland is $75 (hint, if needed use 75 not 75000). Answer the following questions: 1.) What is the income elasticity of oatmeal? Enter a single number. 2.) Holding constant the price of granola and the median income in the state of Maryland, write the demand equation in terms of only QOatmeal and POatmeal. Type an equation in the box. (For your convenience: there is no need to include subscripts.)