APFIVE Minimum Efficient Scale
A firm’s long-run average total cost (LRATC) is $10 per unit at an output of 100 units, $8 at 200 units, $7 at 300 units, $8 at 400 units, and $10 at 500 units. What is the firm’s minimum efficient scale?
A
200 units
B
100 units
C
300 units
D
400 units
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