# economics

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1. DETROIT -- Here's a million-dollar question: How does the global economy connect American car buyers and Russian bureaucrats?
One person who can answer is Reg Modlin, an emissions specialist at DaimlerChrysler AG's U.S. unit. Mr. Modlin, like many other auto-industry executives worldwide, has spent the past several weeks fretting about the soaring price of an obscure, grayish metal called palladium. Many people haven't even heard of it, but for anyone who wants to make a cleaner car or sport-utility vehicle, the precious metal is a must-have. Too bad the main source of the stuff is Russia.
The Price of an Ounce

a)Based on information in the above article is the demand for palladium elastic or inelastic? Explain your answer. i.e. What about palladium and its use in automobile manufacturing creates its high or its low elasticity of demand ?

• economics -

do a little research, then take a shot. Hint: say the price of palladium doubled, how much less passadium be used? I can think of at least two reasons.

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