According the graph shown, the profit-maximizing decision of the monopolist would be:

What will be the principal and most immediate effect on the supply or demand for raw cotton grown in the United States if cotton-growing states experience rapid industrialization?

A) Decrease in demand B) Decrease in supply C) Increase in demand D) Increase in supply

The conditions for a valid instruments do not include the following:

A) each instrument must be uncorrelated with the error term. B) each one of the instrumental variables must be normally distributed. C) at least one of the instruments must enter the population regression of X on the Zs and the Ws. D) perfect multicollinearity between the predicted endogenous variables and the exogenous variables must be ruled out.