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The following data are taken from a United States Department of Agriculture (USDA) report for the wheat market. b) From the information in table 2 would you predict an increase or decrease of wheat price for 2022? Show and explain the formulae you apply

The following data are taken from a United States Department of Agriculture (USDA) report for the wheat market. b) From the information in table 2 would you predict an increase or decrease of wheat price for 2022? Show and explain the formulae you apply

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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The following data are taken from a United States Department of Agriculture (USDA) report
for the wheat market.

b) From the information in table 2 would you predict an increase or decrease of wheat
price for 2022? Show and explain the formulae you apply.

Table 2 Beginning Stocks (Million bushes) Production Imports Total Supply Use Ending Stocks Dec-20 402 1382 41 1124 Dec-21 1226 76 1316
Transcribed Image Text:Table 2 Beginning Stocks (Million bushes) Production Imports Total Supply Use Ending Stocks Dec-20 402 1382 41 1124 Dec-21 1226 76 1316
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