After raising the price of SUVs from $21,100 to $29,700., the car dealer's revenue will increase.
After the prices of SUVs rises from $21,100 to $29,700., there will be an increase in the car dealer's revenue, as the car dealer will be earning more from the sales of SUV which will indirectly increase his overall revenue.
In an inelastic market, the change in price produces a noticeable change in the quantity of items purchased. Thus, a price increase in an elastic market would lead to an increase in a company's total revenue.
Here, after raising the price of SUVs, the car dealer's total revenue will increase.
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