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: High: p=20-QhFrank: p=10-Qf/2Luis: p=5-Ql/4Qh, Qf, and Ql are quantities (in ounces) demanded by Hugh, Frank and Luis respectively. Give all answers to two decimals. Thank you

Part 1 (1 point) Feedback See Hint Suppose the quantity of gold sold in the market is q = 3.00 ounces. The absolute value of the price elasticity of demand is X 9.00 Part 2 (1 point) Feedback See Hint Suppose instead that the quantity of gold sold in the market is q = 16.00 ounces. The absolute value of the price elasticity of demand is -1.73 Part 3 (1 point) Feedback See Hint Suppose instead that the quantity of gold sold in the market is q = 32.00 ounces. The absolute value of the price elasticity of demand is -0.54