When the Demand Curve Is Vertical and the Supply Curve

question 37

Multiple Choice

When the demand curve is vertical and the supply curve is upward sloping,:

• A)a rise in the input price that increases marginal cost by $1, decreases the firm's profit by $1.
• B)a drop in the input price that lowers the marginal cost by $1, doubles the firm's profit.
• C)a drop in the input price that lowers the marginal cost by $1, decreases the output price by $1.
• D)a rise in the input price that increases the marginal cost by $1, doubles the output price.

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