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Suppose that beef sells for US$15 per kg in the USA and A$20 per kg in...

Suppose that beef sells for US$15 per kg in the USA and A$20 per kg in Australia. Assume exchange rate was A$1.2 per US$1

If a lot of people behaved like you and the exchange rate between the US$ and A$ was a flexible rate, what would happen to the exchange rate? What would the equilibrium exchange rate be if the US dollar price and Australian dollar price for beef stayed the same?

Give a graph before and after!

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