... are now paying more for their tuition they are consuming. After the price increase the student moves from x1 to x2 at a new higher price of p2. Each unit of education is now more expensive by an amount of (p2 - p1). The result of this means that the student now has to pay (p2 - p1)x2 more money than before.1 Due to the increase in price, the student is cannot afford as much education, therefore the triangle T represents the consumption loss and R represents the loss due to having to pay higher tuition fees. Looking at this model it is clear to see that an increase in price leads to a loss of welfare as the consumer is forced to have less than originally wanted. Consumer surplus is a nice way of demonstrating the change in welfare, but for some measures, such an approximation may not be suitable. ...

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