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A telephone costs $50 in the United States. Today, in the currency markets you observe the following exchange rates: 1 U.S. dollar = 1.0279 euros

A telephone costs $50 in the United States. Today, in the currency markets you observe the following exchange rates: 1 U.S. dollar = 1.0279 euros 1 euro = 8.1794 Norwegian krones Assume that the currency markets are efficient and that purchasing power parity holds worldwide. What should be the price of the same telephone in Norway

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