Question: QUESTION 1 20 points Save Answer What are the two key reasons that the demand and supply for college has increased over the past 40

QUESTION 1 20 points Save Answer What are the two key reasons that the demand and supply for college has increased over the past 40 years? (Hint: one has to do with government policy and the other has to do with a trend in the broader economy) Say the supply of colleges in 1980 was Q=100+2P and in 2022 the supply of colleges is Q=150+P. The demand for college in 1980 was Q=200-2P and the demand for college in 2022 is Q=250-P. Find the equilibrium quantity and price in 1980 and in 2022. Did the equilibrium price increase or decrease? Does your answer make sense given what we discussed in class

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