Give me correct answer and full explanation otherwise give downvoteNote:-Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.Answer completely and accurate answer.Rest assured, you will receive an upvote if the answer is accurate. Isabella grows pumpkins. Her average variable cost (AVC), average total cost (ATC), andmarginal cost (MC) of production are illustrated in the figure to the right.Assume the market for pumpkins is perfectly competitive and that the market price is $7.00 perbox.How many pumpkins should Isabella grow?Isabella should produce 2 thousand boxes of pumpkins. (Enter your response as aninteger value.)TICPrice ($ per box)10.00-9.00-8.00-7.00-6.00-5.00-4.00-3.00-2.00-1.00-0.00+01MC234Quantity (boxes in thousands)5QATCAVC6LV

A perfectly competitive market consists of several sellers and buyers. It does not have any legal…

Answered: Isabella grows pumpkins. Her average…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Give me correct answer and full explanation otherwise give downvote

Note:-

Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.

Answer completely and accurate answer.

Rest assured, you will receive an upvote if the answer is accurate.

Isabella grows pumpkins. Her average variable cost (AVC), average total cost (ATC), and
marginal cost (MC) of production are illustrated in the figure to the right.
Assume the market for pumpkins is perfectly competitive and that the market price is $7.00 per
box.
How many pumpkins should Isabella grow?
Isabella should produce 2 thousand boxes of pumpkins. (Enter your response as an
integer value.)
TIC
Price ($ per box)
10.00-
9.00-
8.00-
7.00-
6.00-
5.00-
4.00-
3.00-
2.00-
1.00-
0.00+
0
1
MC
2
3
4
Quantity (boxes in thousands)
5
Q
ATC
AVC
6
LV

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