1. The problem asks to convert $\frac{1}{3}$ fluid ounces (fl oz) to cups (c). 2. The conversion factor between fluid ounces and cups is: $$1\text{ cup} = 8\text{ fl oz}$$ 3. To convert fluid ounces to cups, use the formula: $$\text{cups} = \frac{\text{fluid ounces}}{8}$$ 4. Substitute $\frac{1}{3}$ fl oz into the formula: $$\text{cups} = \frac{\frac{1}{3}}{8} = \frac{1}{3} \times \frac{1}{8}$$ 5. Multiply the fractions: $$\text{cups} = \frac{1}{24}$$ 6. Therefore, $\frac{1}{3}$ fluid ounces equals $\frac{1}{24}$ cups. 7. Final answer: $$\boxed{\frac{1}{24}\text{ cups}}$$