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You are an arbitrager seeking to make money. The current exchange rate for Korean Wons is $1USD = 1,176 Wons A pair of comfy slippers
You are an arbitrager seeking to make money. The current exchange rate for Korean Wons is $1USD = 1,176 Wons A pair of comfy slippers sells for $30 in the United States. The same pair of flip flops sells for 1,176 Wons in South Korea. The cost of shipping is $1 per pair. If you choose the most profitable opportunity, how much profit will you earn (in USD) per pair of flip flops sold?
a) $3
b) $4
c) $5
d) $6
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