Which of the Following Statements About the Competitive Environment Is

Multiple Choice

Which of the following statements about the competitive environment is TRUE?

A) In monopolistic competition a seller has a down-sloping demand curve due to the lack of any substitute products.
B) In pure competition, an individual firm is usually faced with a very inelastic demand curve.
C) Firms in oligopoly should avoid price cutting.
D) The industry demand curve in oligopoly is usually horizontal.
E) All of the above.