See the ECONOMICS Table below: New York London Zurich Big Mac price $5.65 £3.49 CHF 6.89 Exchange rate of $1 $1 £0.73 CHF 0.92 Exchange rate of CHF1 $1.09 £0.79 CHF1 Using the above values determine...

See the ECONOMICS Table below:

Using the above values determine whether the Purchasing Power Parity is valid and if not identify if the £ and the Swiss Franc (CHF) are overvalued or undervalued against the $ and whether the £ is undervalued / overvalued against the CHF