Final answer:
True. The demand curve facing a perfectly competitive firm is the same as the market demand curve for the industry.
Step-by-step explanation:
The demand curve facing a perfectly competitive firm is equivalent to the market demand curve facing the whole industry.
True.
A perfectly competitive firm acts as a price taker, meaning it takes the market price as given and cannot influence it. Therefore, the firm's demand curve is perfectly elastic, or flat. This is because the firm can sell any quantity it wishes at the prevailing market price, as there are many other firms competing in the industry.