Economics 9708 · AS & A Level · Price elasticity of supply

Price elasticity of supply — practice question

What is the most likely reason for the ongoing rise in the prices of famous paintings by artists who have already died?

  • Athe increasing technological ability to copy famous paintings perfectly
  • Bthe popular view that famous paintings are an appreciating asset
  • Cthe totally inelastic supply of famous paintings by dead artists
  • Dthe wish of governments to treat art galleries as merit goods

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