What exchange rate between korean won-japanese yen be

Reference no: EM133295147

Assignment:

Suppose the "law of one price" holds for steel between South Korea and Japan.

If one ton of steel sells for 2 million Korean Won and an identical ton of steel sells for 200,000 Japanese Yen, what should the exchange rate between Korean Won and Japanese Yen be? Express your answer as the number of Won you would have to pay to acquire one Yen.

Reference no: EM133295147

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