Suppose the current exchange rate is 100 yen per dollar. We currently sell 100 units of a

Question:

Suppose the current exchange rate is 100 yen per dollar. We currently sell 100 units of a product for 700 yen. The cost of producing and shipping the product to Japan is $5, and the current elasticity of demand is –3. Find the optimal price to charge for the product (in yen) for each of the following exchange rates: 60 yen/$, 80 yen/$, 100 yen/$, 120 yen/$, 140 yen/$, and 160 yen/$. Assume the demand function is linear.

Exchange Rate
The value of one currency for the purpose of conversion to another. Exchange Rate means on any day, for purposes of determining the Dollar Equivalent of any currency other than Dollars, the rate at which such currency may be exchanged into Dollars...