Question

Wheat is the main input in the production of flour. if the price of wheat increases, all else equal, we would expect _______

Answer 1

Wheat is the main input in the production of flour. if the price of wheat increases, all else equal, we would expect b. Supply of flour to decrease.

Wheat product is read to reach32.2 million tonnes in 2022 – 23, 30 above the 10- time normal to 2021 – 22 of24.7 million tonnes.

Climate change-affiliated events play a decreasingly pivotal part in food instability. In summer of 2021, the world faced a wheat deficit due to heatwaves and famines that hit the US and Canada, the alternate and third-largest wheat exporters after Russia. the US Department of Agriculture prognosticated global wheat product would decline from to774.83 million tons in 2022 to 2023, from779.29 million tons last season. In nations similar as Iraq, the deficit is compounded by extreme water dearths.

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