Suppose a Nintendo Wii has a price of 24,000 yen in Japan and the yen-dollar exchange rate changes from 80 yen to the dollar to 100 yen to the dollar? What happens to the price of the Wii measured in dollars?
What will be an ideal response?
At 80 yen = $1, the dollar price of the Wii is $300 while at 100 yen = $1, the dollar price of the Wii is $240.
Economics
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Why is it that if an industry is operating under conditions of internal scale economies then the resultant equilibrium cannot be consistent with the pure competition model?
What will be an ideal response?
Economics
Which of the following markets is most likely to be oligopolistic?
A) The market for corn B) The market for aluminum C) The market for colas D) The market for ground coffees
Economics