How would a sudden increase in the price of canned soup affect people’s behavior? (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.

Answer 1

A sudden increase in the price of canned soup would most likely lead people to buy less soup. This is due to the law of demand, which states that as the price of a good rises, the quantity demanded typically falls, assuming all else remains equal. Higher prices may prompt consumers to seek alternatives or substitute products, reducing overall purchases of canned soup. Therefore, the most accurate response is:

People would buy less soup.