How to find a arbitrage opportunity?

Big Mac Index: January 2019 Local Price Actual Exchange Rate Dollar Price (Foreign currency) (Dollars per unit of foreign currency) (Dollars) Euro area 4.08 1.12 4.57 Norway 42.00 0.12 5.04 United Kingdom 3.29 1.25 4.11 Poland 10.80 0.26 2.81 China 21.00 0.14 2.94 Source: "The Big Mac Index, Our Interactive Currency Comparison Tool," The Economist, last modified January 10, 2019, accessed September 27, 2019, https://www.economist.comews/2019/07/10/the-big-mac-index. Purchasing-power parity (PPP) theory states that exchange rates would need to equalize the prices of goods in any two countries. For the dollar price of a Big Mac to be the same in both countries, a U.S. citizen would need to be able to convert $5.74 into exactly GBP 3.29. To find the exchange rate at which hamburger purchasing power is the same in both countries, divide the price in the United States by the price in the United Kingdom: PPP Exchange Rate (U.S. Dollars per British pound) = $5.74 GBP 3.29 = $1.74 per pound The exchange rate that would have equalized the dollar price of a Big Mac in the United States and the Euro area (that is, the PPP exchange rate for Big Macs) is $1.41 per euro . This change would mean that the euro had depreciated _ against the dollar. If Big Macs were a durable good that could be costlessly transported between countries, which of the following would present an arbitrage opportunity? Check all that apply. Exporting Big Macs from Norway to Poland Exporting Big Macs from the Euro area to the United States Exporting Big Macs from Norway to China Save & Continue