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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

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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