The Economist magazine is famous for its publication of the Big Mac index -- a table of Big Mac TM prices in different countries around the world. The use of the Big Mac allows for a highly standardized product sold throughout the world. Given the following abbreviated table: Suppose that the exchange rate between China and the U.K is: Rmb (Renminbi) 15=1.00 and that the Big Mac TM could be used as a standardized commodity -- easily transported and not perishable. Complete the following: Sell Pounds / Buy Renminbi on Use Renminbi to buy Transport (assume no cost) and foreign exchange markets Big Macs in China sell the Big Macs in London