Problemassume that a bmw costs 35000 euros in germany if, Ask an Expert

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Problem:

Assume that a BMW costs 35,000 euros in Germany. If the law of one price held, and the $/euro exchange rate were 1.25,

Required:

Question: What would be the price of the same vehicle in the U.S.?

Note: Please describe comprehensively and provide step by step solution.

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