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.
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.