If a shoe monopoly experiences an outward shift in its demand curve, the industry demand curve for shoes must have
A) shifted slightly less
B) been flat to begin with
C) shifted slightly more
D) shifted more quickly
E) made the exact same shift

Question

Quizplus · Accepted Answer

When a monopoly experiences an outward shift in its demand curve, it means that the overall demand for the product it monopolizes has increased. Since the monopoly represents the entire industry for that product, the industry demand curve must have made the exact same shift.

If a Shoe Monopoly Experiences an Outward Shift in Its