question archive A mass produced gold statue sold on the streets of Italy has a relatively higher price elasticity of demand, whereas fine art has relatively lower price elasticity - the number of buyers of Picasso stay fairly the same if the price doubles
A mass produced gold statue sold on the streets of Italy has a relatively higher price elasticity of demand, whereas fine art has relatively lower price elasticity - the number of buyers of Picasso stay fairly the same if the price doubles
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A mass produced gold statue sold on the streets of Italy has a relatively higher price elasticity of demand, whereas fine art has relatively lower price elasticity - the number of buyers of Picasso stay fairly the same if the price doubles. Why is there a difference?
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