This economics question tests your understanding of economic models and analysis. The step-by-step answer below applies the relevant framework and explains the reasoning.
ScanSolve AI Answer
Hey joycelynpepi, good to see you again. Step 1: Identify the amount to be converted and the exchange rate. The cost is K150, and the exchange rate is 1 USD = K3.80. Step 2: Convert Kina to USD. To find out how many USD K150 is worth, divide the Kina amount by the exchange rate. USD = Kina amountExchange rate USD = (150)/(3.80) USD ≈ 39.47368... Step 3: Round up to the nearest whole dollar. Since the tourist needs to cover the bill, and the calculated amount is 39.47, rounding up to the nearest whole dollar means the tourist must provide 40. Rounded USD = 39.47368... = 40 The tourist needs to give: 40 USD Send me the next one 📸