Which of the following describes the difference between thedemand faced by a firm and the demand faced by an industry? A. thedemand facing individual firms tend to be more price-elastic thanthose for the entire industry. B. the elasticity of demand for afirm and for an industry is the same. C. the demand facingindividual firms tend to be less price-elastic than those for theentire industry. D the income elasticity of demand faced by a firmis higher than the income elasticity of demand faced by andindustry