The market price of apples is currently rising. In a free-market economy, the most likely explanation of this price change is that:

a. the equilibrium price is lower than the market price.
b. the government has decided to set a higher price so that firms competing in the market make an adequate profit.
c. the supply of money has decreased. there is a shortage in the market for apples.

Jaguar has full manufacturing costs of their s-type sedan of £22,803. they sell the s-type in the uk with a 20% margin for a price of £27,363. today these cars are available in the us for $55,000 which is the uk price multiplied by the current exchange rate of $2.01/£. jaguar has committed to keeping the us price at $55,000 for the next six months. if the uk pound appreciates against the usd to an exchange rate of $2.15/£, and jaguar has not hedged against currency changes, what is the amount the company will receive in pounds at the new exchange rate?