How do you explain the difference between the implied price, Financial Management

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How do you explain the difference between the implied price

On average, the cost of a Big Mac in the U.S. is $5.30 (Jul 2017) If purchasing power parity holds, how much should the Big Mac cost in China if the exchange rate is $1 = RMB 6.512? The actual average price of a Big Mac in China is 20 RMB. What dollar price is implied by PPP? How do you explain the difference between the implied price and the actual price?

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Financial Management: How do you explain the difference between the implied price

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