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A Big Mac costs USD 4.35 in the United States. The same Big Mac costs MYR 12.00 in Malaysia. (The Malaysian currency is Ringgit). If

A Big Mac costs USD 4.35 in the United States. The same Big Mac costs MYR 12.00 in Malaysia. (The Malaysian currency is Ringgit). If absolutle purchasing power parity holds, what is the currency exchnage rate between the US and Malaysia. Answer in terms of USD per MYR. image text in transcribed
A Big Mac costs USD 4.35 in the United States. The same Big Mac costs MYR 12.00 in Malaysia. (The Malaysian currency is the Ringgit.) If absolute purchasing power parity holds, what the currency exchange rate between the US and Malaysia. Answer in terms of USD per MYR

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