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Law And Elasticity Of Demand Curve For Colleges

268 Words2 Pages
Susan Hansen thinks that the tuition supply and demand curves for colleges should slope upward, because the quantity demanded increases with price.
Law and Elasticity of Demand

A demand curve usually slopes downward angle, which is define as people purchase less of a product if the price increases. A demand curve that results in a negative slope is referred to as the law of demand. Susan also predicts that an increase in student tuition fees and possibly of a reduction in financial aid is the best solution to rectify the school’s financial issues.

Ursinus college nationally raised their tuition but they offset the difference by increasing their student financial aid award. This step was necessary to absorb the increase cost therefore, students
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