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MC Qu. 132 Based on this figure, if the... Based on this figure, if the official value of krone is fixed at $0.09 per krone,

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Answer #1

Answer - Option C

Undervalued , increase by $ 5500

Below the equlibrium price , the currency is undervalued. The condition of shortage exists. Hence to establish the equilibrium , supply will increase by $ 5500. This will the difference of the demand and supply at price of 0.09.

It will be overvalued above equilibrium price. Hence only option C will be correct.

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