A recent edition of the Wall Street Journal reported that used car prices are soaring as production of new cars has slowed. It makes sense that the demand for used cars and trucks has _______ and become more _____, meaning that used car dealers should _____ prices it charges for used vehicles.

1. Increased unit elastic; not raise
2. Increased; elastic; raise
3. Decreased; inelastic, lower
4. Increased; inelastic; raise (until unit elasticity emerges in this market)

Modern beer production involves canning and bottling mass quantities of beer at very high speed. This helps ______________ the _________________ and achieve:

1. Reduce; average fixed cost; economies of scale
2. Increase; marginal product of labor; diseconomies of scale
3. Reduce; average product of labor; unit elasticity
4. Increase; marginal fixed cost of labor; profit maximization.
5. Change; elasticity of demand towards 1.00; maximum revenue.