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In the spot market 7.8 Mexican pesos can be exchanged for 1 U.S. dollar. A compact disc costs $15 in the United States. If purchasing

In the spot market 7.8 Mexican pesos can be exchanged for 1 U.S. dollar. A compact disc costs $15 in the United States. If purchasing power parity holds, what should be the price of the same disc in Mexico

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