Determine new price of coffee beans

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Reference no: EM1367231

The table given below shows the values of two goods. Assume wheat is produced in the United State and coffee beans are produced in Kenya.

KENYAN COFFEE
exchange rate Price in Kenya Price in US
1$=75 shillings 150 shillings $2
$1=60 shillings 150 shillings $????

Suppose that the exchange rate changes from 75 shillings to 60 shillings per U.S. dollar. What is the new price of a kilogram of Kenyan coffee beans sold in the United States? Express your answer in U.S. dollars

Reference no: EM1367231

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