ENGAGE |MINDTAP ter 5: End of Chapter Review k to Assignment Attempts Average / 2 17. Problems and Applications Q11 Some years ago, flooding along the Red River in Manitoba destroyed thousands of hectares of wheat. Farmers whose crops were destroyed by the floods were much worse off, but farmers whose crops were not destroyed benefited from the floods. This is because the supply was reduced, causing the equilibrium price to fall What information would you need about the market for wheat to assess whether farmers as a group were hurt or helped by the floods? Price elasticity of demand Price elasticity of supply Grade It Now Save & Continue Continue without saving