Assume that Auenalian iron ore sells for $55 a tonne, Chinese iron are cells for 43URMB {yuan}, and the nominal exchange rate is ERNIE (yuan) per dollar. a) Calculate and explain how you could make a prot from this scenario. in] If other people exploit the same opportunity {as in part (50], what should happen to the price of iron are in China and in Australia? e] Suppose that iron ore is the only.I commodity in the world. 1What would happen to the real exchange rate between Auau'alia and China