J. Pitner Clothing is a medium-size specialty men's and women's clothing store in a market with many other specialty stores, department stores, and discounters. It has established a reputation for offering high-quality, fashionable merchandise with quality service. J. Pitner's competitive environment would best be characterized as
a) oligopoly
b) monopoly
c) pure competition
d) oligopolistic competition
e) monopolistic competition
Answer: e