Suppose Eddie's demand curve for text messages is T = 150 - 500Pt, where T stands for the number of text messages and Pt represents the price of text messages. What is Eddie's consumer surplus if Pt = $0.05 per message?

Empirical evidence refers to:

A) a set of facts established by observation and measurement. B) the process of developing and testing models. C) a proposed explanation for a phenomenon. D) a simplified representation of reality.

Which of the following does NOT describe a function of money?

A) unit of account B) barter C) medium of exchange D) store of value