3274. If the demand for a good is inelastic, an increase in the price of the good will cause the total expenditure of the consumers of the good to

Remain the same
Increase
Decrease
Any of the above
✅ The correct answer is B.
If the demand for a good is inelastic, an increase in the price of the good will cause the total expenditure of the consumers of the good to Increase.

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