Question: please show formula and all step 18-11. PURCHASING POWER PARITY In the spot market, 22.4 Mexican pesos can be exchanged for 1 U.S. dollar. A

please show formula and all step

18-11. PURCHASING POWER PARITY In the spot market, 22.4 Mexican pesos can be exchanged for 1 U.S. dollar. A compact disc costs $15 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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