Show that after a shift in the demand curve, a monopoly's price may remain constant but its output may rise. For simplicity, assume that only the slope of the demand curve changes. 1.) Use the line drawing tool to draw the new demand curve. Label this line 'D1'. 2.) Use the line drawing tool to accurately draw the new marginal revenue curve. Label this line 'MR1'. 3.) Use the point drawing tool to indicate the new price and quantity. Label this line 'E1'. Carefully follow the instructions above, and only draw the required objects.
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Show that after a shift in the demand curve, a monopoly's price may remain constant but its output m...
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