kiaraahquin8785 kiaraahquin8785

01-08-2019
Business

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The euro/dollar exchange rate is €1-$1.20. According to the law of one price, a camera that retails for $300 in New York should sell for ________ in Germany.

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gilcarusolautaro gilcarusolautaro

02-08-2019

Answer:

The euro/dollar exchange rate is €1-$1.20. According to the law of one price, a camera that retails for $300 in New York should sell for €250 in Germany.

Explanation:

By rule of three:

if $1,2 ------ €1

$300------ x= €250

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