After the Invention of the Cotton Gin in 1793,shirt Production

question 59

Essay

After the invention of the cotton gin in 1793,shirt production became more efficient.If everything else remained constant and this production efficiency was the only change that affected the supply and demand for shirts,what would you expect to happen to the equilibrium price and equilibrium quantity? Use a supply and demand graph to supplement your explanation.

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Definitions:

Gender-based Differences

Variations in behaviors, preferences, attitudes, or characteristics often observed between males and females, which can be attributed to biological, social, or cultural factors.

Reward Power

The capability of an individual, often a leader or manager, to influence the behavior of others by offering incentives or rewards for certain actions or outcomes.

Coercive

Relating to the use of force or intimidation to obtain compliance.

Selfish Reasons

Motivations or justifications for actions that prioritize one's own benefits or interests above others'.