At the Start of 2011 Myspace's Customer Base Was ________

question 89

Multiple Choice

At the start of 2011 Myspace's customer base was ________ million, while Facebook's base at the same time numbered ________ million.

• A) 80/100
• B) 100/80
• C) 80/500
• D) 350/500
• E) 500/350

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Definitions:

Competitive Market

A market structure characterized by many buyers and sellers, free entry and exit, and products that are similar enough to be considered substitutes.

Monopsony

A market condition in which there is only one buyer, giving that buyer considerable control over the price of goods and services.

Marginal Value Curve

A graphical representation that shows how the marginal value of a good or service changes as its quantity changes.

Quantity Purchased

The total amount of goods or services bought by consumers during a specific period.