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ECON 315 Week 5 Discussion
ECON 315 Week 5 Discussion
March 3, 2022
ECON 315 Week 6 Discussion 1
ECON 315 Week 6 Discussion 1
March 3, 2022
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ECON 315 Week 6 Discussion

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ECON 315 Week 6 Discussion: :Discussion: College Costs

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ECON 315 Week 6 Discussion: College Costs

Textbooks, money, and a money filled jar on a table. Jar is labeled College.

Over the last 30 years in the United States, the real price (adjusting for inflation) of a college education has increased by almost 80 percent. Over the same period, nationwide college enrollments have almost doubled. While faculty salaries have barely kept pace with inflation, administrative staffing, expenditures, and capital costs have increased significantly. In addition, government support to universities (particularly research funding) has been cut. In your response, provide a thorough explanation to each discussion question and prompt.

  • College enrollments increased at the same time that average tuition rose dramatically. Does this contradict the law of downward-sloping demand?
  • Use supply and demand curves (or shifts therein) to explain the dramatic rise in the price of a college education.
  • What market does the college education industry operate within? Why?

Post an initial response to the discussion topic by the third day of this module and reply to at least one peer’s initial response by the final day of the module week.

Check ECON 315 Week 5 Discussion