Price Quantity Week Refer to the above figure. The figure represents the market demand and supply curves for widgets. If this industry is perfectly competitive, what statement can be made about the demand curve for an individual firm's products? An individual firm's demand curve will be a smaller version of the market demand curve. An individual firm's demand curve will be horizontal at $5. An individual firm's demand curve will be horizontal at a price below $5 An individual firm's demand curve cannot be determined from the graph above