BUS102- Economic Analysis of the Consequences of the Fictitious Scenario- Economics Assignment

Internal Code: MAS5329 Economic Assignment Scenario: “On the Island of ‘Experimentia’ the market for Tertiary Education has been highly regulated. The federal government of Experimentia wanted to keep the cost of education low, so a binding price ceiling was in effect. However, after a recent election on Experimentia, the Tertiary Education sector will be deregulated and prices will now be determined by the free market for tertiary education (ie. The price ceiling will be removed).” Task: Perform an economic analysis of the consequences of the following scenario (this is a fictitious scenario, nevertheless relevant to contemporary policy discussions in Australia).