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

Withholding corn from the market leads to a decrease in the quantity of corn supplied at every price level. This is a leftward shift in the supply curve, as there is a decrease in supply at each price level. Therefore, the correct answer choice is C) Leftward shift in the current supply of corn.

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