Tobin's model of the speculative demand for money shows that people hold money as a store of wealth as a way of

Economic profit is defined as

a. price minus the sum of average fixed and marginal cost b. total revenue minus total implicit cost c. total revenue minus the average total cost d. total revenue minus the sum of implicit and explicit costs e. consumer surplus minus total explicit cost

The pollution emitted by a power plant is an example of a detrimental externality

a. True b. False Indicate whether the statement is true or false