The Ivory Coast (Cte d'lvoire) leads the world in production and export of the cocoa beans used
Question:
The Ivory Coast (Cte d'lvoire) leads the world in production and export of the cocoa beans used in the manufacture of chocolate. One metric ton (just under 2,205 pounds) of cocoa beans costs 1,896 US dollars in Miami and 1,286,659 CFA (francs) in Abidjan. What is the CFA/US Dollar exchange rate that achieves purchasing power parity for cocoa beans between the US and Cte d'Ivoire?
Enter your answer using 1 decimal place. Do not enter units, "$", or commas. Round your answer up if the calculated value of the second decimal place value is 5 or more. The Ivory Coast (Cte d'Ivoire) leads the world in production and export of the cocoa beans used in the manufacture of chocolate. One metric ton (just under 2,205 pounds) of cocoa beans costs 1,896 US dollars in Miami and 1,286,659 CFA (francs) in Abidjan. What is the CFA/US Dollar exchange rate that achieves purchasing power parity for cocoa beans between the US and Cte d'Ivoire?
Enter your answer using 1 decimal place. Do not enter units, "$", or commas. Round your answer up if the calculated value of the second decimal place value is 5 or more.
Expert Answer:
Price of 1 metric ton of cocoa beans in Miami 1896 Price of 1 metric ton of cocoa beans in Abidj... View the full answer
