Profit is the return received on a business enterprise after all operating expenses have been met. Palladium was cheaper than platinum and since it does a better job cleaning up auto emissions than platinum, automobile manufactures use palladium instead of platinum as they chose tighter pollution emission standards. But, since early 1998, Russian exports of palladium have been erratic and declining in availability. In consequence, the world price of palladium has escalated from a historic plateau …
showed first 75 words of 874 total

showed last 75 words of 874 total
…yacute; We can see that the increase of the price caused the decrease of quantity demanded. In addition, we got the most recent information of palladium.The price of palladium has dropped down as it was in 1998. We can assume that because the price was too high, the demanders who have used palladium in their products have switched to cheaper substitutes so the demand for palladium has decreased. Therefore, the price of palladium has dropped.