(1 point)
Responses
People would buy less soup
People would buy less soup
People would buy more soup
People would buy more soup
People would value the soup they eat more.
People would value the soup they eat more.
People would find emotional incentives to buy soup.
People would find emotional incentives to buy soup.
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1 answer
A sudden increase in the price of canned soup would likely lead to the following behavior:
People would buy less soup.
When the price of a good increases, consumers typically respond by purchasing less of that good, as it becomes more expensive relative to their budget constraints. Some may also seek substitutes or alternatives if available.
