If Tom's Total Utility from Watching One More Minute of Television

question 204

True/False

If Tom's total utility from watching one more minute of television increases but the increase for each additional minute is smaller than the previous minute, he has diminishing marginal utility.

---

Definitions:

Magazines

Magazines are periodical publications containing a variety of content such as articles, stories, and advertisements, aimed at a specific readership or general audience.

Standard Deviation

A measure of the amount of variation or dispersion of a set of values, indicating how much the values in a data set differ from the mean of the data set.

Expected Value

The average value over many repetitions of an experiment, commonly utilized in the fields of probability and statistics.

Sample Proportion

The ratio of members in a sample with a particular attribute to the total number of members in the sample.