Given an exchange rate of 120 yen = $1, what is the U.S. dollar price of 1 yen?

Suppose the demand for Pepsi is qp = 50 - 2pp + 1pc. The firm faces a constant marginal cost of m, and denotes the price of Coke

Assuming Bertrand behavior, derive Pepsi's best-response function and explain how the firm changes price in response to changes in its own marginal cost and changes in Coke's price.

The difference, in terms of economic goals, between developing countries and developed countries is that:

A. developing countries focus primarily on achieving an equitable distribution of income, while developed countries focus on higher economic growth rates. B. there are no differences between the economic goals of developing and developed countries. C. developing countries focus primarily on achieving economic stability, while developed countries focus on an acceptable growth rate. D. developing countries focus primarily on meeting basic needs, while developed countries focus on economic stability.