A town's large sugar beet processing factory is destroyed in a flood. Which of the following is a likely consequence in the next few months?(1 point)

Question

Responses

The demand for sugar beets will decrease.
The demand for sugar beets will decrease.

The farmers near the town will immediately plant more sugar beets.
The farmers near the town will immediately plant more sugar beets.

The price of sugar beets will increase.
The price of sugar beets will increase.

The cost of processing sugar beets will increase worldwide.

Answer 1

The most likely consequence in the next few months after a town's large sugar beet processing factory is destroyed in a flood is:

The price of sugar beets will increase.

With the factory no longer operational, there will be a reduced capacity to process sugar beets, leading to a decrease in supply in the market. If demand for sugar beets remains constant or does not decrease as quickly as the supply does, the price will likely increase.