Business, Legal & Accounting Glossary
The average variable cost (AVC) is the total variable cost per unit of output. This is found by dividing total variable cost (TVC) by total output (Q).
In economics, average variable cost (AVC) is a firm’s variable costs (labour, electricity, etc.) divided by the quantity of output produced.
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This glossary post was last updated: 10th February, 2020 | 360 Views.