Answer: Constant price and Current price
Explanation:
Real income and nominal income is calculated respectively at the constant price and the current price.
The constant prices has to do with the real values that has taken inflation into consideration. They are typically in real value.
The current prices are the prices of goods and services at a particular point in time. Current prices are typically in nominal value.
Therefore, the answer is option D.
Answer: B
Explanation: Cockroaches have a strong oily odor from them.
Marginal utility is the <u>"change in total utility obtained by consuming one more unit of a good".</u>
Marginal utility evaluates the additional satisfaction a customer earns from consuming extra units of products or services. The idea of marginal utility is utilized by economists to decide the amount of a thing buyers are happy to buy. Positive peripheral utility happens when the utilization of an extra thing builds the total utility, while negative marginal utility occurs when the utilization of an extra thing diminishes the total utility.
Answer:
The correct answer is option d. whether the product has utility.
Explanation:
The demand elasticity is a concept that explains the elasticity of the consumer in terms of buying a product while its price rises.
All of the factors given in the question are a part of this concept except whether the product has utility.
The reason is that when a consumer buys something, the utility of that desire is not measured. If people have a high demand elasticity, they would buy the most priciest of things which have no utility as such.
