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):
A. Rightward shift in the current supply of corn
B. Movement up along the current supply curve of corn
C. Leftward shift in the current supply of corn
D. Movement down along the current supply curve of corn
Answer: C
You might also like to view...
An increase in oil prices will
A) shift the short-run aggregate supply curve up and to the left. B) shift the short-run aggregate supply curve down and to the right. C) cause a movement along the short-run aggregate supply curve. D) not affect the short-run aggregate supply curve.
Sally runs a hair styling salon. Sally is a profit-maximizing owner whose firm operates in a competitive market. The marginal cost of a haircut is $15 . What is the maximum wage that Sally will pay her stylists?
a. less than $15 per haircut b. $15 per haircut c. more than $15 haircut d. There is insufficient information to answer this question.