Table 68 Elegant Settings Manufactures Stainless Steel Cutlery

question 234

Multiple Choice

Table 6.8
$$\begin{array} { | c | c | } \hline \text { Quantity (sets) } & \begin{array} { c } \text { Long Run } \\\text { Average Cost } \\\text { (dollars) }\end{array} \\\hline 100 & 40 \\\hline 200 & 35 \\\hline 300 & 30 \\\hline 400 & 30 \\\hline 500 & 35 \\\hline\end{array}$$ Elegant Settings manufactures stainless steel cutlery. Table 6.8 shows the company's cost data.
-Refer to Table 6.8.The minimum efficient scale of production is _________.

• A) 100 units
• B) 200 units
• C) 300 units
• D) 400 units

---

Definitions:

Private Good

A product or service that is consumed by one individual without providing benefit to others and is subject to exclusion and rivalry.

Fish Fillet

A piece of fish that has been cut or sliced away from the bone, often prepared as a food item.

Excludable

A property of a good or service whereby it is possible to prevent people from using it if they have not paid for it or met specific conditions.

Club Good

A type of good that is excludable but non-rivalrous, meaning people can be prevented from using it, but one person's use does not diminish availability for others.