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Figure 4-2
-Refer to the Figure 4-2. What would happen at the equilibrium price?
Historical Significance
The importance of an event, object, or person in affecting the course or understanding of history, meriting attention and study.
Cotton
A natural fiber harvested from the cotton plant, which became the foundation of a lucrative agricultural industry in the southern United States, largely based on slave labor before the Civil War.
Peculiar Institution
A euphemism for slavery in the antebellum South, emphasizing its distinctive and controversial nature.
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