Suppose that one canister of Pringles costs £25, that of Macadamia Nuts costs $5 per can, and that the relative price of Pringles in terms of Macadamia Nuts is 3 cans per canister. Figure out the following:
a) The dollar-pound exchange rate, i.e. the price of a pound sterling in terms of the dollar.
b) The dollar price of Pringles.
c) The pound price of Macadamia Nuts.