I presume a mega-litre is 10^6 liters. By definition, a litre is 1000 cubic centimetres -- that's a cube ten cm on a side. You can see, then, that one cubic meter would hold one thousand litres. A thousand thousands make a million, so a megalitre would be the same as a thousand cubic meters.
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There are 54,000,000,000 cubic centimeters in 54 megaliters.
There are approximately 1,233.5 cubic meters in one acre foot of water.
1 liter = 0.001 cubic meter. 1 cubic meter = 1,000 liters.
one thousandth cubic meter (1 cubic meter = 1000 cubic liter)
One cubic metre of water equates to 1000 litres. The answer to this is easy if you change metres to millimetres and litres to millilitres.