Consider the following information regarding your firm's output and total costs (ignore any cell with ---- in it):
Output (Q) | Total Costs | Average Total Cost (ATC)
0 | 500 | -----
16 | 600 | -----
34 | 700 | -----
44 | 800 | -----
52 | 900 | -----
58 | 1000 | -----
62 | 1100 | -----
Which of the following is correct regarding the level of output (Q) where ATC is minimized?
a) Q = 16
b) Q = 34
c) Q = 52
d) Q = 62