Question
If the world price of wheat increases due to bad weather in Europe, Russia and South America, __________.
Bread prices will decrease.
Corn farmers in the US and Canada may decide to produce wheat instead of Corn.
That may lead to an increase in chewing gum production.
Demand for wheat will increase.
Bread prices will decrease.
Corn farmers in the US and Canada may decide to produce wheat instead of Corn.
That may lead to an increase in chewing gum production.
Demand for wheat will increase.
Answers
GPT-4o mini
If the world price of wheat increases due to bad weather in Europe, Russia, and South America, **corn farmers in the US and Canada may decide to produce wheat instead of corn.**
This is because higher prices for wheat make it more profitable to grow compared to corn, leading farmers to adjust their crop choices based on market signals.
This is because higher prices for wheat make it more profitable to grow compared to corn, leading farmers to adjust their crop choices based on market signals.