The Cost of Getting Into College

While each school has a limited, and for the most part inelastic supply of spots, the high cost of getting into college is easily explainable by examining a vertical supply curve at, let's say 2000 acceptances, with an ever increasing demand curve, driving the "cost" of acceptance ever higher, thus requiring even more and more from each student if they are willing to go and meet the "equilibrium price" of acceptance, especially if it's a top university.

I always knew economics would be useful for something...