F19 Output(gall ons of iceTotal cost(dollars)cream per hour)1134.8511The Jerry - Berry Ice Cream Shoppe's total cost schedule is in the above table. Based on the table, which of the following is correct?O A. The average fixed cost of 1 gallon is $1.00.O B. The total fixed cost is $1.O C. The average variable cost of 2 gallons of ice cream is $1.00 per gallon.O D. Only answer A and answer B are correct.O E. Answer A, answer B, and answer C are correct.MacBook Proesc000!@#$13478.QWEY UtabRA S| DFGaps lockH

Fixed cost is the cost at 0 output and average fixed cost is the fixed cost divided by output.

Output (gall ons of ice cream per hour) Total cost (dollars) 1 1 3 3 4 8. 11 The Jerry - Berry Ice Cream Shoppe's total cost schedule is in the above table. Based on the table, which of the following is correct? A. The average fixed cost of 1 gallon is $1.00. B. The total fixed cost is $1. C. The average variable cost of 2 gallons of ice cream is $1.00 per gallon. D. Only answer A and answer B are correct. E. Answer A, answer B, and answer C are correct.

Output (gall ons of ice cream per hour) Total cost (dollars) 1 1 3 3 4 8. 11 The Jerry - Berry Ice Cream Shoppe's total cost schedule is in the above table. Based on the table, which of the following is correct? A. The average fixed cost of 1 gallon is $1.00. B. The total fixed cost is $1. C. The average variable cost of 2 gallons of ice cream is $1.00 per gallon. D. Only answer A and answer B are correct. E. Answer A, answer B, and answer C are correct.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter12: The Cost Of Production

Section: Chapter Questions

Problem 3CQQ

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