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PURCHASING POWER PARITY In the spot market, 15.4 Mexican pesos can be exchanged for 1 U. S. dollar. A compact disc costs $8 in the

PURCHASING POWER PARITY In the spot market, 15.4 Mexican pesos can be exchanged for 1 U. S. dollar. A compact disc costs $8 in the United States. If purchasing power parity (PPP) holds, what should be the price of the same disc in Mexico

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