Hiro, Francesca, and Luis are the only three buyers of gold in a small mining town. Their

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Hiro, Francesca, and Luis are the only three buyers of gold in a small mining town. Their inverse demand functions for gold are as follows: Hiro: =20-4 p = 20-

Q H Francesca: 48 = 1-40442 p = 10 - QF2 L4. 8 - 5- 4 p

5 5- . , , ad w * Q L are the quantities (in ounces) demanded by Hiro, Francesca, and Luis, respectively. 4th attempt Because Hiro, Francesca, and Luis always go shopping for gold together, the seller must sell at the same price to all of them. Suppose the seller is selling 15.00 ounces of gold. Then the marginal revenue equals $.

Give your answer to two decimals.

Posted Date: May 15, 2024 06:01 AM

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