If farmers withhold some of their current corn harvest from the market because they anticipate a higher price of corn in the near future, then this would cause a(n)

Question

Quizplus · Accepted Answer

If farmers withhold some of their current corn harvest from the market, there would be a decrease in the current supply of corn, causing a leftward shift in the supply curve. This is because the quantity supplied at every price would be lower than it was before, as farmers are holding some of the corn back in anticipation of higher prices in the future.

If Farmers Withhold Some of Their Current Corn Harvest from the Market