Assume that there is a long-lost painting by Monet was discovered. The owner decides to auction it off to the highest bidder at Sotheby's. But before he auctions it he secretly makes a digital image of the painting so that he can make reproductions. What can we safely assume will happen to the demand and the price of these reproductions in the short run? What about the long run?

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The Answer of Assume that there is a long-lost painting by Monet was discovered. The owner decides to auction it off to the highest bidder at Sotheby's. But before he auctions it he secretly makes a digital image of the painting so that he can make reproductions. What can we safely assume will happen to the demand and the price of these reproductions in the short run? What about the long run?

Assume That There Is a Long-Lost Painting by Monet Was