The demand curve of a perfectly competitive firm is vertical

Recall the Application. As the world price of wool decreased, the quantity of wool supplied by individual ranchers would ________, and the quantity supplied in the whole market would ________

A) decrease; increase B) increase; decrease C) increase; increase D) decrease; decrease

If a firm in the U.S. wants to purchase 50,000 yuan worth of raw materials from a Chinese firm, how many dollars would it have to transfer to the firm? Assume that one dollar exchanges for 6 yuan in the foreign exchange market

A) $8333.33 B) $7,500 C) $6,773.21 D) $9,663.22