According to the supply and demand model,when the cotton gin was invented,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 productivity of cotton production, making it easier and faster to remove seeds from cotton. This means that the supply of cotton would increase, shifting the supply curve rightward. As a result, the equilibrium price of cotton would decrease, and the equilibrium quantity of cotton would increase.

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