Answer:
<u>Foreign trade</u>
Explanation:
Often times a major determiner of the value of countries currency is the amount of their exports.
Thomas therefore as a financial advisor <em>should advise the government to build more on production of locally available materials that are highly demanded internationally for exports, by so doing he could improve the country's currency</em>.
The total of the assets in a balance sheet is equal to the summation of the owners' equity capital and the total liabilities of the firm.
<h3>What is a balance sheet?</h3>
Balance sheet is the financial statement of an organization that gives the details about the financial position of the company at the end of the financial period.
In the above case, the total of the assets is $50000 and the total of the equities and liabilities tallies the amount of assets. An image for the same has been attached for better reference.
Thus, the equation of the balance sheet holds true in the case of ABC Rentals.
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Answer:
Willingness to pay
Revenue
Two
Elastic
Inelastic
Explanation:
Price discrimination is when a producer or a seller charges different prices for the same product usually in different markets.
In price discrimination, a seller attempts to remove or reduce consumer surplus by charging the consumer at his willingness to pay. For price discrimination to be effective, a seller must be able to estimate the willingness to pay of consumers.
Price discrimination is successful when a seller earns higher profits when she discriminates compared to when she didn't price discriminate.
Price discrimination exists in the airline industry. One of the ways price discrimination exists in the airline industry is through charging to check bags. Customers ( people who board airplanes) are distributed into two groups- those who won't pay to check bags and those who would pay to check bags.
It is assumed that those who would pay to check their bags have a price inelastic demand because they are indifferent to paying an extra amount for their luggage.
Inelastic demand is defined as when a small change in price has no effect on quantity demanded.
While it is assumed that those who won't pay to check their bags have an elastic demand because they are unwilling to pay extra to check their luggages.
Elastic demand is when a change in price has effect on quantity demanded.
Answer: decreases
Explanation: In simple words, complementary goods are those goods which have negative relation with each other in respect of price and demand. The usage of one good is dependent on other in case of complementary relation.
For example - Petrol and petrol car are complementary goods, if the price of petrol increases the demand for petrol cars will decrease.
Hence we can conclude that the right answer to the given problem is decrease.
