According to the supply and demand model,when the cotton gin was invented and if all else was held constant,we would expect the equilibrium price of cotton to ________ and the equilibrium quantity of cotton to ________.

Question

Quizplus · Accepted Answer

The invention of the cotton gin increased the efficiency of cotton processing, leading to an increase in supply. With higher supply and constant demand, the equilibrium price decreases while the equilibrium quantity increases.

According to the Supply and Demand Model,when the Cotton Gin