When artists pass away, the supply of their paintings most likely becomes:

• A. Perfectly elastic
• B. More elastic
• C. Perfectly inelastic
• D. Unit elastic

Answer: (C)

Verified step by step guidance

1. Understand the concept of supply elasticity: It measures how much the quantity supplied of a good changes in response to a change in its price.
2. Recall that a perfectly inelastic supply means the quantity supplied does not change regardless of price changes; the supply curve is vertical.
3. Consider the nature of paintings by an artist who has passed away: since no new paintings can be created, the total quantity available is fixed and cannot increase.
4. Because the quantity of paintings is fixed and cannot respond to price changes, the supply of these paintings is perfectly inelastic.
5. Therefore, the supply curve for paintings of a deceased artist is vertical, indicating perfectly inelastic supply.