In Oligopoly Situations

Multiple Choice

In oligopoly situations:

A) prices tend to be rigid and similar--because of price-fixing agreements.
B) price wars may occur if a firm seeks to increase its market share by cutting price.
C) a firm faces an INELASTIC demand curve if it raises price.
D) the quantity offered changes a lot due to the lack of a fixed market price.
E) All of the above are true.