Chp 7 Problem 10 part a

Chp 7 Problem 10 part a - 1 Eur0 = $1 1 pound = 1.5$ so 200...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Suppose the U.S. dollar price of a British pound is $1.50; the dollar price of a euro is $1; a hotel room in London, England, costs 120 British pounds; and a comparable hotel room in Hanover, Germany, costs 200 euro.
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: 1 Eur0 = $1 1 pound = 1.5$ so 200 euros = 200$ 120 pounds = 1.5*120= 180 $ so room is cheaper in Britain (pounds) a. Which hotel room is cheaper for a U.S. tourist?...
View Full Document

Ask a homework question - tutors are online