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In the exchange rate model in Example 7.2, we found

that the optimal unit revenue, when converted to

dollars,

is $85.71. Now change the problem so that the

company is selling in Japan, not the United Kingdom.

Assume that the exchange rate is 0.00965 ($/) and that

the constant in the demand function is 161,423,232,300,

but everything else, including the elasticity of the

demand function, remains the same. What is the optimal

price in yen? What is the optimal unit revenue

when converted to dollars? Is it still $85.71? Do you

have an intuitive explanation for this?

PLEASE DO IT IN EXCEL AND SHOW FORMULA TEXT