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1. The following exchange rates are quoted in Sydney and London at the same time: Sydney (AUD/GBP) 2.56 London (GBP/AUD) 0.35 (a) Is there a

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1. The following exchange rates are quoted in Sydney and London at the same time: Sydney (AUD/GBP) 2.56 London (GBP/AUD) 0.35 (a) Is there a possibility for two-point arbitrage? (b) If so, what will arbitragers do? (c) What is the profit earned from arbitrage

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