Social Media Is Part of an Online Revolution Online, Sometimes

question 21

Multiple Choice

Social media is part of an online revolution online, sometimes referred to as _____.

• A) online communities
• B) Web 2.0
• C) social network sites
• D) consumer review sites
• E) blogging

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Definitions:

Marginal Revenue Product

The extra income produced through the use of an additional unit of an input, such as labor or capital.

Competitive Labor Market

A labor market where numerous businesses actively seek to hire workers, and numerous workers seek jobs, ensuring balanced job availability and wage rates based on skills and experience.

Wage Rate

The amount of compensation paid to employees for a unit of work or time, often expressed as an hourly rate.

Marginal Revenue Product

The additional revenue generated by one more unit of input, such as labor or capital, in the production process.