Which of the following statements is correct? Group of answer choices A perfectly competitive firm and a
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Question:
Which of the following statements is correct?
Group of answer choices
A perfectly competitive firm and a perfectly competitive industry both have downward sloping demand curves.
A perfectly competitive firm faces a perfectly elastic demand curve and a perfectly competitive industry has a downward sloping demand curve.
A perfectly competitive firm faces a downward sloping demand curve and a perfectly competitive industry faces a perfectly elastic demand curve.
A perfectly competitive firm and a perfectly competitive industry both have perfectly elastic demand curves.
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