Politicians are often heard saying that tuition at state universities should be kept low “to make education equally accessible to all residents of the state, regardless of income.”
1. Assuming that state funding for the universities is held constant, describe the conditions that will prevail if tuition is held below equilibrium price. Provide one (1) example to support your response.
2. Will education really be “equally accessible” under these conditions? Provide one (1) example to support your response.