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The previous section showed that the extent of economic output fluctuates over time; on this section, we introduce a model that helps clarify these fluctuations. The cost per mille (or CPM) is a common metric used to purchase advertising primarily based on the number of impressions, known as value per thousand impressions. With the CPM model, advertisers pay a pre-determined quantity to media house owners for every 1000 impressions they want their ad to obtain. Without the impression multiplier, the CPM would need to fluctuate throughout the day to higher repres
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