Both income elasticity of demand and cross-price elasticity of demand coefficients can take on negative, zero, or positive values

If a student enrolls in an additional course at the university, an economist would conclude that: a. the total benefit that the student expects to receive as a result of completing her college degree exceeds the total cost of her college education. b. the student is not following the rule of rational choice

c. the student must not be involved in extracurricular campus activities. d. the expected marginal benefit of an additional course must exceed the expected marginal cost of the course.

The EEC is a group of

a. South American countries b. Eastern European countries c. Asian countries d. Middle Eastern countries e. Western European countries