Three questions about the worst droughts ever recorded in the Midwestern region of the United States in 1988?

Farm output is extremely sensitive to the weather. In 1988, the Midwestern region of the United States experienced one of the worst droughts ever recorded; corn production fell by 35%, wheat production by more than 10%, and oat and barley production by more than 40%. 1. What do you suppose happened to the prices of these commodities?
The grains are an input into the production of cattle. The higher cost of grain led many ranchers to slaughter their cattle earlier. 2. What do you think happened to the price of beef in the short run? In the intermediate run?
3. Why did the drought in the Midwest lead to increased prices for vegetables and fruits?

Answer:
1. prices went up
2. prices went up
3. the prices went up to help farmers gain back what they lost from the other crops.

It's just like stealing something in the mall, when someone steals an item, the rest of the items in the store go up by a small percent, to make up for the lost money.
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