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Economics

Which of the following describes the difference between the demand faced by a firm and the demand faced by an industry?

A. The demand facing individual firms tend to be more price-elastic than those for the entire industry.

B. The elasticity of demand for a firm and for an industry is the same.

C. The demand facing individual firms tend to be less price-elastic than those for the entire industry.

D. The income elasticity of demand faced by a firm is higher than the income elasticity of demand faced by an industry.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91919938

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