Elasticity of demand will ____ as the availability of substitutes ____

Most students attending college pay tuition and are unable to hold a full-time job. For these students, tuition is

A) part of the opportunity cost of going to college. So are their forgone earnings from not holding a full-time job. B) part of the opportunity cost of going to college. Their forgone earnings from not holding a full-time job are not part of the opportunity cost of attending college. C) not part of the opportunity cost of going to college, but their forgone earnings from not holding a full-time job are part of the opportunity cost of attending college. D) not part of the opportunity cost of going to college. Neither are their forgone earnings from not holding a full-time job.

The monetary return on a college education is considered economic rent

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