1. Suppose that two countries, Vietnam and Cote d'Ivoire, produce coffee. The currency used in Vietnam is the dong (VND) and the currency used in Cote d'Ivoire is the CFA franc (XOF). In Vietnam, coffee sells for 5,000 dong (VND) per pound. The exchange rate is 30 VND per 1 CFA franc (XOF): {exchange= 30}. (3 points) Describe the law of one price. If the law of one price holds, what is the price of coffee in Cote d'Ivoire, measured in CFA francs (XOF)? Assume the price of coffee in Cote d'Ivoire is actually 160 CFA francs per pound of coffee. Compute the relative price of coffee in Cote d'Ivoire versus Vietnam. Where will coffee traders buy coffee? Where will they sell coffee in this case? How will these transactions affect the price of coffee in Vietnam and the price of coffee in Cote dIvoire?