The statement that the demand curve of the perfectly competitive firm is downward-sloping and the demand curve in the industry is horizontal is False.
The demand curve of a firm that is perfectly competitive is horizontal at the market price. As a result, every unit sold will result in it receiving the same price. The difference in total revenue from selling one more unit at the constant market price is the marginal revenue that the company receives.
No solitary unit is able to affect the price of the goods in a market with perfect competition because there are so many buyers and sellers dealing with the same kind of commodity.
Because any quantity may be sold at the same price under perfect competition, the demand curve is horizontal and completely elastic at the market price.
To learn more about the demand curve refer to:
https://brainly.com/question/13828738
#SPJ1
