When Marginal Utility Is Positive, Total Utility Is

question 13

Multiple Choice

When marginal utility is positive, total utility is:

• A) increasing.
• B) decreasing.
• C) zero.
• D) at its minimum.

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Definitions:

Probability Function

A function, denoted by f(x), that provides the probability that x assumes a particular value for a discrete random variable.

Required Condition

A necessary stipulation or prerequisite that must be met for a particular procedure, operation, or situation to proceed or be considered valid.

Binomial Probability

The probability of achieving a specific number of successes in a fixed number of independent Bernoulli trials, given a certain success probability in each trial.

Dependent Trials

Experiments or processes where the outcome or result of one trial influences the outcome of another.