MANAGERIAL ECONOMICS
5th Edition
ISBN: 9781337106658
Author: FROEB
Publisher: CENGAGE L
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Question
Chapter 11, Problem 1MC
To determine
Equilibrium exchange rate.
Expert Solution & Answer
Explanation of Solution
The equilibrium exchange rate occurs at the point where the demand for dollar and supply of dollar intersect with each other. Thus, option ‘b’ is correct.
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