In this module we learned that, despite increases in the cost, the value of higher education has increased over time. How can college be made more affordable? Revenues earned by colleges and universities come from three main sources:Tuition and fees paid by students, which have increased faster than the cost of living.Support from governments at the federal, state and local levels. This support is paid for through tax revenues. Even private colleges and universities obtain funding from the government, but government support has declined at all levels in recent years.Alumni contributions.What has caused the cost of college to increase so much? (Not every college has a fancy gym or an Olympic sized pool with a lazy river.)

Necessary goods are those goods whose demand does not change due to the fluctuation in their price…

Answered: In this module we learned that, despite…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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In this module we learned that, despite increases in the cost, the value of higher education has increased over time. How can college be made more affordable? Revenues earned by colleges and universities come from three main sources:

Tuition and fees paid by students, which have increased faster than the cost of living.
Support from governments at the federal, state and local levels. This support is paid for through tax revenues. Even private colleges and universities obtain funding from the government, but government support has declined at all levels in recent years.
Alumni contributions.

What has caused the cost of college to increase so much? (Not every college has a fancy gym or an Olympic sized pool with a lazy river.)

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