Averаge Fixed Cоst (AFC): Tоtаl fixed cоst (TFC) divided by quаntity of output Average Variable Cost (AVC): Total variable cost (TVC) divided by quantity of output Average Total Cost (ATC): Total cost (TC) divided by quantity of output MC indicates marginal cost. Based on the above plots, which one is not true? 1. in the downward-slopping portion of the average variable cost (AVC) curve is (1) ______________ (region 1 or region 2), 2. where marginal cost (MC) curve is (2) ____________ (below or above) the average variable cost (AVC) curve.