If the price of corn rises we expect a rise in the price of wheat because these crops are related products for farmers.

Question

Quizplus · Accepted Answer

Corn and wheat are both grains and are often grown by the same farmers. Therefore, an increase in the price of corn will likely lead to an increase in the price of wheat because farmers will have an incentive to switch production from wheat to corn, reducing the supply of wheat and increasing its price.

If the Price of Corn Rises We Expect a Rise