The camera you want to buy costs $480 in the U.S. If absolute purchasing power parity exists, the identical camera will cost _____ in Canada if the exchange rate is C$1 = $.8124.
Please show all work.
The Cost of camera in Canada = Cost in $ /exchange rate in $ per C$
= 480 / .8124
= C$ 590.8419 (rounded to 590.84)
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