The 'Power Loom,' perfected in the 1820s, had what impact on the weaving industry?

1. It allowed independent hand-weavers to match factory output from their own homes
2. It automated weaving and drove the decline of independent hand-loom weavers
3. It was so expensive that only government textile works could afford to purchase it
4. It produced only coarse, low-quality fabrics that consumers consistently refused to buy

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