The vertical distance between ATC and AVC as output expands is a a. marginal cost b. total fixed cost c. average fixed cost d. economic profit per unit

Managerial Economics: A Problem Solving Approach
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Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
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Chapter7: Economies Of Scale And Scope
Section: Chapter Questions
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The vertical distance between ATC and AVC as output expands is a
a. marginal cost
b. total fixed cost
c. average fixed cost
d. economic profit per unit
Please, show your answer graphically.

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