Seventeenth-century colonial tobacco growers usually responded to depressed prices for their crop by

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Seventeenth-century colonial tobacco growers responded to depressed prices for their crop by growing more tobacco to increase their volume of production, which would result in a larger profit even at a lower price. This strategy often led to an oversupply of tobacco, which perpetuated the cycle of low prices.

Seventeenth-Century Colonial Tobacco Growers Usually Responded to Depressed Prices for Their