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Scenario 9-1
The hottest sites on the World Wide Web can attract thousands of visitors. In one month alone, online dating service eHarmony had 3.2 million unique visitors and was the fifth most-visited online dating site. Consumer spending on online personals was $235.3 million in the first half of 2004, up from $214.3 million in the first half of 2003, according to the Online Publishers Association and comScore Networks. ("Friendster, eHarmony in matchmaking deal," Reuters, MSNBCOnline, November 30, 2004)
-(Scenario 9-1) To get more people to visit the site, the eHarmony sent out press releases to conventional media to get them to run stories about the site. Which of the following is not another way the eHarmony could have promoted the site?
Equilibrium Quantity
The quantity of goods or services supplied and the quantity demanded at which their price is stable, and there is no tendency for it to change unless external factors intervene.
Allocative Efficiency
A state of resource allocation where resources are distributed in accordance with consumer preferences, maximizing overall utility.
Equilibrium Price
The price at which the quantity of a product demanded by consumers equals the quantity supplied by producers, resulting in market balance.
Equilibrium Quantity
The quantity of goods or services supplied and demanded at the equilibrium price, where the quantity supplied equals the quantity demanded.
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