Several years ago, flooding along the Missouri and the Mississippi rivers destroyed thousands of acres of wheat.
Question:
Several years ago, flooding along the Missouri and the Mississippi rivers destroyed thousands of acres of wheat.
a. Farmers whose crops were destroyed by the floods were much worse off, but farmers whose crops were not destroyed benefited from the floods. Why?
b. What information would you need about the market for wheat to assess whether farmers as a group were hurt or helped by the floods?
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a Farmers whose crops were not destroyed benefited because the destructi...View the full answer
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