If the exchange rate between the U.S. dollar and the Mexican peso went from $1.00 = 15 pesos to $1.00 = 10 pesos, the price of a 300 peso hat would:

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Initially, a 300 peso hat would cost $20 (300 pesos / 15 pesos per dollar). After the exchange rate changes to $1.00 = 10 pesos, the same hat would cost $30 (300 pesos / 10 pesos per dollar). Therefore, the price of the hat in dollars would increase by $10.00.

If the Exchange Rate Between the U