The price of cheddar cheese rises from $1 per pound to $2 per pound, and as a result, producers of cheese increase their production from 5 thousand tons per month to 55 thousand tons per month. What is the arc price elasticity of supply

Suppose a starbucks tall latte cost $4.00 in the united states, 5.00 euros in the euro area and $2.50 australian dollars in australia. nominal exchange rates are .80 euros per dollar and 1.4 australian dollars per u. s. dollar. where does purchasing power parity hold? a. both the euro area and australia. b. neither the euro area or australia. c. the euro area but not australia. d. australia but not the euro area.