Question: 1. The graph is provided only to help you visualize E xplain why the short run (not the long run) Average Total Cost (ATC) is

1. The graph is provided only to help you visualizeExplain whythe short run (not the long run) Average Total Cost (ATC) is

1. The graph is provided only to help you visualize

Explain why the short run (not the long run) Average Total Cost (ATC) is "U-shaped":

(ATC starts high at low levels of output ($30 at 4 Q), declines to a minimum ($23 at 8 Q), and eventually increases ($40 at 14 Q).

"U-shaped":(ATC starts high at low levels of output ($30 at 4 Q),declines to a minimum ($23 at 8 Q), and eventually increases ($40

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