Multiple Choice
A British firm selling in the U.S. prices its product at $100. The initial exchange rate is 0.80 pounds per dollar. If the new exchange rate is 0.75 pounds per dollar, the revenue for the British firm from a single sale would drop by
A) 80 pounds.
B) 5 pounds.
C) 75 pounds.
D) 10 pounds.
E) 8 pounds.
Correct Answer:
Verified
Correct Answer:
Verified
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