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tangare [24]
2 years ago
14

Pls answer quickly, thanks!!

Mathematics
1 answer:
dybincka [34]2 years ago
7 0

At the equilibrium price p, we can solve for the quantity of goods x :

demand = supply

5200 - 0.0005x = 2800 + 0.0003x

2400 = 0.0008x

x = 3,000,000

With this quantity of goods, the equilibrium price is

p = 5200 - 0.0005 (3,000,000)

p = 5200 - 1500

p = 3700

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The amount of dollars that Mr. Levant would exchange for 100 pesos on his return is <u>$9</u>.

<h3>What is an exchange rate?</h3>

An exchange rate is a rate that is used to convert one nation's currency to another.

The exchange rate is based on the purchasing power of each nation's currency.

<h3>Data and Calculations:</h3>

Dollars before traveling to Mexico = $270

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Learn more about exchange rates at brainly.com/question/2202418

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