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The price you sell things for is more about what people can pay than what they cost to produce. If jet propulsion majors easily get huge loans, and English majors only get tiny ones, then the university will easily find a way to charge them different fees.

Also, the poetry class is certainly taught by an adjunct.

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Supply and demand isn’t related to “cost”, only the price the market will bare.

“The portion of the marginal cost curve above its intersection with the average variable cost curve is the supply curve for a firm operating in a perfectly competitive market (the portion of the MC curve below its intersection with the AVC curve is not part of the supply curve because a firm would not operate at a price below the shutdown point).”

https://en.m.wikipedia.org/wiki/Marginal_cost#Perfectly_comp...

Only in a perfectly competitive market, which, as you'll note, is the problem here - there's too much distortion around student fees (demand) to truly call the college market perfectly competitive.

> Supply and demand isn’t related to “cost”

Demand isn't related to cost, but supply certainly is. Lower costs mean greater quantity supplied at any price level.

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