What is the shape of the average total cost curve for a firm in the short run?

Exhibit 3-19 Supply and demand curves ​ ​ Initially the market shown in Exhibit 3-19 is in equilibrium at P2, Q2 (E2). Changes in market conditions result in a new equilibrium at P2, Q4 (E4). This change is stated as a(n):

Suppose a car wash with 2 washing stations and 5 workers is able to wash 100 cars per day. When it adds a third station, but no more workers, it is able to wash 150 cars per day. The marginal product of the third washing station is:

Exhibit 3-23 Demand and supply curves ​ ​ In Exhibit 3-23, a movement from A to D is best described as a(n):

The elastic portion of the downward-sloping straight-line demand curve lies:

Price elasticity of demand measures:

If an excise tax is placed on a product that has a perfectly inelastic demand, then:

Which of the following must be true if average total cost is rising?

Suppose the marginal product is maximized when the 10th worker is hired. Then the marginal cost value is minimized when

Suppose the president of a college argues that a 25 percent tuition increase will raise revenues for the college. It can be concluded that the president thinks that demand to attend this college is: