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2 What is arbitrage? Explain the arbitrage opportunity when the price of a dually listed oil & gas company stock is $33.3 on the New

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2 What is arbitrage? Explain the arbitrage opportunity when the price of a dually listed oil & gas company stock is $33.3 on the New York Stock Exchange and $43.2 CAD on the Toronto Stock Exchange. Assume that the exchange rate is such that 1 USD equals 1.31 CAD. Explain what is likely to happen to prices as traders take advantage of this opportunity

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