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TOPIC # 1 Perfect Competition Increases in demand caused the price of cotton to more than triple between early 2010 and early 2011. Did

TOPIC #1 "Perfect Competition" Increases in demand caused the price of cotton to more than triple between early 2010 and early 2011. Did cotton farming become a highly profitable industry as a result? Explain why or why not.(Use short-run and long-run effects).

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