Ask AI: If the price of apples were to increase to $3 per pound, consumers would demand less.

That is correct, according to the law of demand. The Law of Demand states that as the price of a product increases, the quantity demanded by consumers decreases, assuming all other factors remain constant. This suggests that if the price of apples were to increase to $3 per pound, consumers, especially those who are price-sensitive, may reduce their consumption of apples. They might seek alternatives or substitutes. However, it's also crucial to consider the elasticity of demand: for some consumers, a price increase won't change their purchasing habits, especially if apples are a favorite or necessary part of their diet. Overall, it's a careful balancing act between price and demand.