The inhabitants of a small island begin exporting beautiful cloth made from a rare plant that grows only on their island. Seeing how popular the small quantity that they export has been, they steadily raise their prices. A clothing maker from New York, thinking that he can save money by "cutting out the middleman," decides to travel to the small island and buy the cloth himself. Ignorant of the local custom of offering strangers outrageous prices and then negotiating down, the clothing maker accepts (much to everyone's surpise) the initial price of 400 tepizes/m2. The price of this cloth in New York is 120 dollars/yard2.

Question

11-01-2015
Physics

Answered

The inhabitants of a small island begin exporting beautiful cloth made from a rare plant that grows only on their island. Seeing how popular the small quantity that they export has been, they steadily raise their prices. A clothing maker from New York, thinking that he can save money by "cutting out the middleman," decides to travel to the small island and buy the cloth himself. Ignorant of the local custom of offering strangers outrageous prices and then negotiating down, the clothing maker accepts (much to everyone's surpise) the initial price of 400 tepizes/m2. The price of this cloth in New York is 120 dollars/yard2.

Answer :

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AL2006 AL2006 · Answer 1 · 2015-01-11T20:27:29-05:00

OK. We understand all of that. And may I say what a fascinating story
it is. Sadly, it appears that just as you began to give us numerical data,
you suddenly ran out of gas, and stopped writing before you could ask
the question !

The only facts I can offer that might somehow relate to the story are:

-- 1 square yard = 0.83612... square meter

-- 1 square meter = 1.19599... square yard .

As for today's exchange rate on the London market between Tepizes
and USD, I can find no information on that.

I can only hope that I have been helpful to you in some small way.