How Does the Price Elasticity of Supply for Henri Matisse

question 164

Multiple Choice

How does the price elasticity of supply for Henri Matisse paintings compare with the price elasticity of supply for Damien Hirst paintings? Note that Matisse is deceased, whereas Hirst still lives.

• A) Matisse paintings likely have a higher price elasticity of supply.
• B) Matisse paintings likely have a lower price elasticity of supply.
• C) Matisse paintings and Hirst paintings likely have the same price elasticity of supply.
• D) Matisse paintings and Hirst paintings likely differ in price elasticity of supply in an indeterminate direction.

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