1. The July 19, 2021, edition of the Wall Street Journal reported that used car prices are soaring at 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).