3. Average Fixed Cost is the
a.
the horizontal distance (at any particular cost level) between ATC and AVC
d.
vertical distance (at any particular quantity) between AVC and the horizontal axis
b.
vertical distance (at any particular quantity) between ATC and AVC
e.
the horizontal distance (at any particular cost level) between ATC and the vertical axis
c.
vertical distance (at any particular quantity) between ATC and the horizontal axis
Choose and explain your answer above thoroughly--graphical, algebraically, numerically.
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