25 Jul WHAT IS THE FIRMS MARKUP PER SWEATER AS A PERCENTAGE OF REVENUES?
Consider a Mexican firm that knits sweaters for sale to a U.S. department store. The firm incurs tot Show more Consider a Mexican firm that knits sweaters for sale to a U.S. department store. The firm incurs total costs of 16 pesos/sweater and sells the sweaters to the department store for $5 per sweater. The exchange rate is 4 pesos/$. a) What is the firms markup per sweater as a percentage of revenues? b) If the peso is devalued 20% what is the new value of the peso? c) If the firm keeps dollar prices constant and peso costs constant what is the markup per sweater as a percentage of revenue after the devaluation? d) If the firm decides to keep the gross margin per sweater constant (at 20%) would sales expand or decline? Why? What would the new dollar price be after devaluation? Show less
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