It is argued that, with a rising demand for college education, if the supply were to become more elastic, then college tuition costs would
A)rise faster.
B)decrease slowly.
C)increase more slowly.
D)decrease steeply.

Question

Quizplus · Accepted Answer

When supply becomes more elastic, it means that suppliers (in this case, colleges and universities) can more easily increase the quantity of education provided in response to increased demand. This flexibility in adjusting supply helps to moderate price increases, leading to a scenario where tuition costs increase more slowly.

It Is Argued That, with a Rising Demand for College