Which of the Following Describes the Difference Between the Demand

Multiple Choice

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.