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Assume €1 = $1.1364 and $1 = S$1.2408. A new coat costs S$213 in Singapore. How much will the identical coat cost in euros if absolute purchasing power parity exists?

Respuesta :

Answer:

151.05 euro

Explanation:

The computation is shown below:

Data provided in the question

€1 = $1.1364

$1 = $1.2408

And the new coat cost is $213 in Singapore

So, by considering the above information

The 1 euro = $1.1364 × $1.2408 = $1.4100512

So,

$1 = 1 ÷ $1.4100512 euro = 0.709194

So, the identical coat cost is

= $213 ×  0.709194

= 151.05 euro

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