how would a sudden increase in the price of canned soup affect peoples behavior?
a. People would buy less soup.
b. People would buy more soup.
c. People would value the soup they eat more.
d. People would find emotional incentives to buy soup.
a. People would buy less soup.
If the price of canned soup suddenly increases, people would likely buy less soup as it may become less affordable for them. They may choose to allocate their money towards other food items or cut back on their soup consumption altogether. This change in behavior could also lead to an increase in home-cooked meals or buying alternative, cheaper food options.