Analyze why cotton and oil prices dropped in Texas at the beginning of the Great Depression.(1 point) Responses Farmers and refinery owners often went against government orders to produce high surpluses to make up for profit losses. Farmers and refinery owners often went against government orders to produce high surpluses to make up for profit losses. Farmers and refinery owners received no federal relief funding during the Hoover administration. Farmers and refinery owners received no federal relief funding during the Hoover administration. Farmers and refinery owners were allowed by state and federal governments to produce large amounts of these natural resources to make up for profit losses. Farmers and refinery owners were allowed by state and federal governments to produce large amounts of these natural resources to make up for profit losses. Farmers and refinery owners had to fire Black and Mexican American workers to provide jobs for White laborers.
The correct answer is: Farmers and refinery owners often went against government orders to produce high surpluses to make up for profit losses.
During the Great Depression, demand for cotton and oil significantly decreased due to the economic downturn. In an attempt to stabilize prices and prevent further financial losses, the government issued orders to reduce production levels and limit surpluses. However, many farmers and refinery owners disregarded these orders and continued to produce high amounts of cotton and oil in order to make up for their profit losses. This resulted in a flood of supply in the market, which caused prices to drop even further.