Not really. The number of people going to college did go up significantly between 1980 and 2010, but since 2010 the number of students has remained stable. So even if that were a valid reason for the inflation in the fist period, there’s no real reason why the price would increase by another 400-some percent post 2010. Apart from price gouging, I think.
I haven’t studied any econ since high school, but if demand goes up, but supply does not go up, then wouldn’t that explain the increase in price w/o an increase in students? Like, if there’s 100 slots available, and 200 people worth of demand, wouldn’t they increase price until demand falls to 100, to match the supply? At least, that’s my understanding from HS.
tbf this could be due to higher demand, not that that is a solid defense but it is an explanation
Not really. The number of people going to college did go up significantly between 1980 and 2010, but since 2010 the number of students has remained stable. So even if that were a valid reason for the inflation in the fist period, there’s no real reason why the price would increase by another 400-some percent post 2010. Apart from price gouging, I think.
https://educationdata.org/wp-content/uploads/2020/03/number-of-post-baccalaureate-students-enrolled-in-the-united-states-from-1980-to-2020-by-gender.png
oh well i stand corrected then
I haven’t studied any econ since high school, but if demand goes up, but supply does not go up, then wouldn’t that explain the increase in price w/o an increase in students? Like, if there’s 100 slots available, and 200 people worth of demand, wouldn’t they increase price until demand falls to 100, to match the supply? At least, that’s my understanding from HS.
Ah I did not think about it that way at the time, perhaps I should have. That does make sense.