A firm's [...]is represented by the minimum point on the LRATC curve and is the firm size that will minimize average unit costs.
Answer
minimum efficient scale
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Open it A firm's minimum efficient scale is represented by the minimum point on the LRATC curve and is the firm size that will minimize average unit costs.
Original toplevel document (pdf)
owner: iamcfa - (no access) - 2015 CFA Level 1 Study Schweser Book 2 - Economics, p88
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