Absolutley #14 is OK. If the load is 11 amps, all you need is a conductor that satisfies the load. You can then put on the highest fuse or breaker allowed by the manufacturer and still be OK. For example, if the load was 11 amps and the nameplate says maximum OCPD is 40 amps, you may install a 40 amp breaker and run #14 for the circuit.
See 240.4(D) which points you to 240.4(G), then go to part IIIof article 440 for A/C units.
III. Branch-Circuit Short-Circuit and Ground-Fault Protection
440.21 General.
The provisions of Part III specify devices intended to protect the branch-circuit conductors, control apparatus, and motors in circuits supplying hermetic refrigerant motor-compressors against overcurrent due to short circuits and grounds. They are in addition to or amendatory of the provisions of Article 240.
