_____ Was a Facebook Program Conceived as a Giant Word-Of-Mouth

question 72

Short Answer

_____ was a Facebook program conceived as a giant word-of-mouth machine to grab consumer activity at the point of purchase to put into the News Feed and post to a user's profile.

Understand the concept of Pareto efficiency and its application to voluntary exchanges.

Analyze the conditions under which a policy or action can be considered potentially efficient.

Recognize the principles of perfect competition and how they lead to efficient resource allocation.

Understand the role of marginal cost and opportunity cost in economic decision-making.