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: =480.0096.00 , Frank: =80.0016.00 , Luis: =20.004.00 . , , and are the quantities (in ounces) demanded by Hugh, Frank, and Luis, respectively. Below, give all answers to two decimals. 1st attempt Part 1 (1 point) Suppose the price of an ounce of gold is = $5.00. The total ounces of gold demanded in this market is . Part 2 (1 point) Suppose the quantity demanded of gold in this market is 8.25 ounces. Then the market price of an ounce of gold must be $ .]