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Please can you let me know how demand and supply determines prices in "contemporary art market" and the effects on speculation I will be thankful to you if you can help me and let me know how demand...

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Please can you let me know how demand and supply determines prices in "contemporary art market" and the effects on speculation I will be thankful to you if you can help me and let me know how demand and supply graphs appear in contemporary art-market.
Answered Same Day Dec 23, 2021

Solution

David answered on Dec 23 2021
134 Votes
Please can you let me know how demand and supply determines prices in
"contemporary art market" and the effects on speculation
Answer:
The price in the "contemporary art market" would be determined at a point where
market demand for contemporary art product equals market supply for
contemporary art product. Market demand curve for contemporary art product
would be negatively sloped, implying that quantity...
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