Suppose you are trying to determine which theory (Baumol's Cost Disease Theory or Bowen's Rule) does a better job of exp
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Suppose you are trying to determine which theory (Baumol's Cost Disease Theory or Bowen's Rule) does a better job of exp
Suppose you are trying to determine which theory (Baumol's Cost Disease Theory or Bowen's Rule) does a better job of explaining why the cost of education per pupil has been increasing. What sort of evidence would suggest that cost disease is driving more of the increase in the cost of education? What sort of evidence would suggest that Bowen's Rule is driving more of the increase in cost? HINT: You can discover the answer to this question more easily by drawing shifting demand and supply curves.