Question: 01 Question (2 points) e See page 271 Hugh, Frank, and Luis are the only three buyers of gold in a small mining town. Their

01 Question (2 points) e See page 271 Hugh, Frank, and Luis are the only three buyers of gold in a small mining town. Their inverse demand functions for gold are as follows: Hugh: p = 384.00 - 96.00 x QH, Frank: p = 192.00 - 48.00 x QF, Luis: p = 16.00 - 4.00 x QL. QH, QF, and QL are the quantities (in ounces) demanded by Hugh, Frank, and Luis, respectively. Below, give all answers to two decimals. V 6th attempt Part 1 (1 point) See Hint Suppose the price of an ounce of gold is p = $16.00. The total ounces of gold demanded in this market is 7.50 Part 2 (1 point) See Hint Suppose the quantity demanded of gold in this market is 7.38 ounces. Then the market price of an ounce of gold must be $

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