It was affected by the major American depressions of 1837, 1857, but not as much as the North.
棉花产量只在两次美国经济大萧条时期,1837年57年受到影响,但损失远不及北方
In one model we thought of the firms setting quantities and the market determining prices, and here we have the firms setting prices and the market determining quantities, but the basic underlying economic structure of this is very, very similar.
在前一个模型我们假设公司设定产量,而市场决定价格,在本模型中我们假设公司设定价格,而市场决定产量,但基本的经济结构是非常,非常相似的
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