9. Suppose that there is severe flooding in a region in which there is a high concentration...

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9. Suppose that there is severe flooding in a region in which there is a high concentration of wheat farmers.

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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Business Economics

ISBN: 388402

2nd Edition

Authors: Mark P. Taylor, Andrew Ashwin, N. Gregory Mankiw

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Question Posted: Nov 04, 2024 10:00 AM

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9. Suppose that there is severe flooding in a region in which there is a high concentration...

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