Where a Social Network Following Comes From-With Fans Coming from a Friend

question 52

Multiple Choice

Where a social network following comes from-with fans coming from a friend being more valuable than those coming from an ad-is referred to as a

• A)friendster.
• B)friend visitor.
• C)fan source.
• D)fan base.
• E)friend source.

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Definitions:

Market Power

Ability of a seller or buyer to affect the price of a good.

Producer Surplus

The gap between the price sellers are willing to accept for their goods or services and what they end up receiving.

Consumer Surplus

The discrepancy between the amount consumers are prepared to pay for a product or service and the amount they end up paying.

Demand Curve

A graphical representation of the relationship between the price of a good and the quantity demanded, typically downward sloping, indicating an inverse relationship.