Suppose a pair of skis sell in Canada for 1,235 Canadian Dol…
Suppose a pair of skis sell in Canada for 1,235 Canadian Dollars and one Canadian Dollar = .72 US Dollars. If purchasing power parity holds, what is the price of this same set of skis in the US? Answer in US Dollar and cents rounded to the nearest penny; for example 456.87 for your answer.
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