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What is arbitrage? Explain the arbitrage opportunity when the price of a dually listed mining company stock is $50 (USA) on the New York Stock

What is arbitrage? Explain the arbitrage opportunity when the price of a dually listed mining company stock is $50 (USA) on the New York Stock Exchange and $52 (CAD) on the Toronto Stock Exchange. Assume that the exchange rate is suck that $1 (USA) equals $1.01 Canadian dollar. Explain what is likely to happen to price as traders take advantage of this opportunity?

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