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 $5.00 per box. How many pumpkins should Isabella grow? Isabella should produce integer value.) thousand boxes of pumpkins. (Enter your response as an Price ($ per box) 10.00- MG ATC AVC 9.00- a 8.00- G 7.00- 6.00- 5.00- 4.00- 3.00- 2.00- 1.00- 0.00- 0 2 3 5 6. Quantity (boxes in thousands)

Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter21: Production And Costs
Section21.4: Costs Of Production: Total, Average, Marginal
Problem 2ST
Question
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 $5.00 per
box.
How many pumpkins should Isabella grow?
Isabella should produce
integer value.)
thousand boxes of pumpkins. (Enter your response as an
Price ($ per box)
10.00-
MG
ATC
AVC
9.00-
a
8.00-
G
7.00-
6.00-
5.00-
4.00-
3.00-
2.00-
1.00-
0.00-
0
2
3
5
6.
Quantity (boxes in thousands)
Transcribed Image Text: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 $5.00 per box. How many pumpkins should Isabella grow? Isabella should produce integer value.) thousand boxes of pumpkins. (Enter your response as an Price ($ per box) 10.00- MG ATC AVC 9.00- a 8.00- G 7.00- 6.00- 5.00- 4.00- 3.00- 2.00- 1.00- 0.00- 0 2 3 5 6. Quantity (boxes in thousands)
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