Price for education Essay

The observation of the university authorised is incomplete. While she office be correct in her effrontery that inquire for entre may be completely value ine finaleic, basing such a conclusion on the fact that the outlet or quality of the students applying oer the last 15 years has non diminish despite the doubling of the tuition fees over the same uttermost of time is non the only consideration that should be examined. In finding out if the rent for admission is completely price inelastic, it is important to not only examine the figures from a unmarried university but too the figures from other universities. genteelness and therefore admission is a honourable that is not easy to quantify. The continued influx of students despite the doubling of tuition fees could exactly be a function of the better performance of the university over the same period of time. Given that this is the case, it bathnot be say that the direct for admission is completely price inelastic. some other factor that must be examined is the make sense of students who are applying for all universities.According to the rectitude of supply and demand, the price of a legal can continually increase without a noticeable change in demand if the supply is limited. Applying this theory to the case at hand, it can safely be argued that the demand for admission is not completely price inelastic but is rather explained by the fact that there is a neediness of universities to begin with. Given the limited supply, students depart still enroll at the said university despite the doubling of the tuition range because of a lack of universities.Price snap bean or lack thereof can be explained by many factors. The bearing of alternatives or lack thereof would be one possible explanation. Another office would be to consider the fact that all the same if the price for education has increased, there has also been a corresponding increase in the wages/income of people and improvement in t he standard of living. Basing the assumption on a single observation is not bounteous such as the assertion of the university official in this case.