Question: 1. Relationship between Short and Long Run Average Costs The table shows information about Umbrella Corporation's short-run costs. Quantity of Prescription Drugs BUSTANO 1 MASTNET

1. Relationship between Short and Long Run Average Costs The table shows information about Umbrella Corporation's short-run costs. Quantity of Prescription Drugs BUSTANO 1 MASTNET 2 Total Fixed Total Variable Cost Cost $4000NI $1000, $7, $2007, $7 $2000, $7, $2007, $2000 $1000, $7, $2007, $2000 $7 $14 $21 Total Cost $4028 2. What is the average fixed cost of producing 4 prescription drugs? What is the average variable cost? What is the average total cost of producing 2 prescription drugs? What is the marginal cost? $2000, $21, $2007, $2000

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