The Web site for this textbook can be viewed simultaneously by thousands of students around the world without paying money to view it.Does this suggest that the concept of scarcity does not apply to Web sites?
A) No,because each of the students incurs an opportunity cost,measured by the next best alternative to viewing the Web site.
B) Yes,because an additional student viewing the Web site does not prevent another student from viewing it.
C) Yes,because the students do not have to pay money to view the Web site and thus they do not have to forgo something else to view it.
D) No,because the more students who view it,the slower the transmission of the information to each of the students.
E) Yes,because the technology of the internet has made the principles of economics outdated.

Question

Quizplus · Accepted Answer

The concept of scarcity still applies to the Web site because each student incurs an opportunity cost when viewing it, which is measured by the next best alternative they could have spent their time doing. Even though the Web site may be viewed by many students simultaneously, the fact remains that each student has a limited amount of time and attention they can devote to it, which makes it scarce in those terms.

The Web Site for This Textbook Can Be Viewed Simultaneously