Question: 1- Answer the following questions (2 x 2.5 marks = 5 marks) Mr. Sultan has bought a JBL Boombox, for HKD 2,000, PlayStation for HKD
1- Answer the following questions (2 x 2.5 marks = 5 marks) Mr. Sultan has bought a JBL Boombox, for HKD 2,000, PlayStation for HKD 4,000, and three Briefcases for HKD 25.000, during a shopping spree in Hong Kong. The spot exchange rate is HKD AUD 5. (A) What should the Price JBL Boombox, PlayStation, and three Briefcases cost in Australia? (B) Suppose Mr. Sultan is stopped at customs as he arrives in Sydney, and must pay import duties of 20 percent. If the same JBL Boombox, PlayStation, and three Briefcases cost AUD 450, AUD 1,500 and AUD 8,000 in Australia, respectively, was his shopping spree worth at least the HKD 10,000 paid for airfare and hotels during his trip
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