Exhibit 8-11
-Refer to Exhibit 8-11, which is a long-run average total cost (ATC) schedule. The minimum efficient scale is at

Name: Exhibit 8-11 -Refer to Exhibit 8-11, which is a long-run average total cost (ATC) schedule. The minimum efficient scale is at
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Question

Exhibit 8-11 
-Refer to Exhibit 8-11, which is a long-run average total cost (ATC) schedule. The minimum efficient scale is at

Quizplus · Accepted Answer

The minimum efficient scale is the point where the ATC is at its lowest, which occurs at 2 units in this schedule. Therefore, the best choice is to produce 2 units in order to minimize costs and be efficient in the long run.

Exhibit 8-11 -Refer to Exhibit 8-11, Which Is a Long-Run Average Total