The Following Table Indicates the Dollar Price of Libras, the Currency

question 111

Multiple Choice

The following table indicates the dollar price of libras, the currency used in the hypothetical nation of Libra.Assume that a system of flexible exchange rates is in place. Refer to the above table.The equilibrium dollar price of libras is:

• A)$5
• B)$4
• C)$3
• D)indeterminate.

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