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This isn't a dumb question, I think it is smart! You are checking to ensure you are making the most of your investment.
Here are a few things you need to check to start:
(1) How relevant are the ad parameters (targeting, search terms and placements, etc.) to your landing page: if the wrong people are clicking the link up they won't join your list
(2) Time on the page: check to see how long the web traffic you are getting is staying on your page, if the visitors are only on your page for fractions of a second they may be clicking on your ad by mistake
(3) The functioning of your page: make sure that the page and opt-in form are working correctly
By checking these three things, you'll start to narrow down where the problems are, understand what is going on and start to optimize your sign up process.
I hope this helps, feel free to ask follow up questions.