Price changes send contrasting messages to consumers and producers about whether to enter or leave a market. Rising prices give a signal to consumers to reduce demand or withdraw from a market completely, and they give a signal to potential producers to enter a market.
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Virginia's economy depended heavily on tobacco production, which flourished in the lands and when exported to Europe enriched Virginia's budget a lot.
Eli Whitney <span>revolutionized the production of cotton by greatly speeding up the process of removing seeds from cotton fiber. Hope this helps!</span>
