Oolong tea is produced in China and sold in manycountries. In the province of Fujian, per 100 gramsof Oolong tea sells for 50 yuan. In Kuala Lumpur,per 100 grams of the same Oolong tea sells forRM20. Suppose that the exchange rate is RM0.451 yuan.Please do the following calculations based on theabove information:1. How much would it cost in Malaysian currencyto buy the tea in Fujian?2. How much would it cost in China currency tobuy the tea in Kuala Lumpur?

here we calculate the given by following method as follow;

Please do the following calculations based on the above information: 1. How much would it cost in Malaysian currency to buy the tea in Fujian? 2. How much would it cost in China currency to OUy the toa in Kuala Lump ur?

Please do the following calculations based on the above information: 1. How much would it cost in Malaysian currency to buy the tea in Fujian? 2. How much would it cost in China currency to OUy the toa in Kuala Lump ur?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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