Demand and Supply of Educational Serice: a case of liberal arts colleges

Rajindar Koshal and Manjulika Koshal

Education Economics, 1999, vol. 7, issue 2, 121-130

Abstract: This study attempts to build and estimate a model that explains the behavior of the supply of and demand for education at liberal arts colleges in the United States. The statistical analysis based on 1990-1991 data for 338 private liberal arts institutions suggests that a perfectly competitive market exists for liberal arts education. The quantity of students, cost of education, average Standardized Aptitude Test score, class size, and ranking of the institutions explain variation in tuition at the liberal arts colleges.

Date: 1999
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DOI: 10.1080/09645299900000011

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