11-17. In March 2008, the euro/dollar exchange rate was 1 = $1.50. By November, the dollar had...
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11-17. In March 2008, the euro/dollar exchange rate was €1 = $1.50.
By November, the dollar had strengthened to €1 = $1.25.
Assume that a European luxury goods marketer cut the price of an $8,000 tweed suit by 10 percent to maintain holiday sales in December. How would revenues have been affected when dollar prices were converted to euros?
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