In 2017, Leonardo da Vincis painting Salvador Mundi sold for $450 million. Portray this sale in a

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In 2017, Leonardo da Vinci’s painting Salvador Mundi sold for $450 million. Portray this sale in a demand and supply diagram and comment on the elasticity of supply. Comedian George Carlin once mused, “If a painting can be forged well enough to fool some experts, why is the original so valuable?” Provide an answer.

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Economics

ISBN: 9781264112272

22nd Edition

Authors: Campbell McConnell, Stanley Brue, Sean Flynn

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