answer asap

Suppose that there are two petrol stations in a suburb, Frank's Fuel and Pete's Petrol. Suppose that both purchase petrol on the wholesale market for $1/litre and have no other costs. The demand schedule for petrol is Price Quantity per litre Demanded $1.60 .000 $1.50 2,000 $1.40 3,000 $1.30 4,000 $1.20 5,000 $1.10 6.000 $1.00 7,000 If Frank's and Pete's work together to maximize total profits and split them evenly, what price will they charge? How much profit will each make? O a. $1.30-> $800 O b. $1.30->$600 O c. $1.40 -> $2,800 O d. $1.40-> $800 Now, suppose that Frank's decides to cut its price by $0.10. How much profit will each make? Frank first, Pete second. O a. $500, $500 O b. $750, $750 O c. $1,000. SO O d. $1.500, so