4. On December 28, 2020, the U.S. Dollar (USD) / Euro (EUR) exchange rate was 1 USD 0.82 EUR. (a) Suppose a European person is bidding 75 USD on an item on Ebay. What will be the price in Euros? (b) Suppose a U.S. person is traveling in Spain, and hotel room costs 200 EUR. What is the cost in U.S. dollars?

4. On December 28, 2020, the U.S. Dollar (USD) / Euro (EUR) exchange rate was 1 USD 0.82 EUR. (a) Suppose a European person is bidding 75 USD on an item on Ebay. What will be the price in Euros? (b) Suppose a U.S. person is traveling in Spain, and hotel room costs 200 EUR. What is the cost in U.S. dollars?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Concept explainers

Equilibrium Price and Quantity

Equilibrium refers to a state of balance that comes about because there is equality in all forces.

Question

Answer both part!!!

4. On December 28, 2020, the U.S. Dollar (USD) / Euro (EUR) exchange rate was 1 USD = 0.82 EUR.
(a) Suppose a European person is bidding 75 USD on an item on Ebay. What will be the price in
Euros?
(b) Suppose a U.S. person is traveling in Spain, and hotel room costs 200 EUR. What is the cost in
U.S. dollars?

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