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.
Cost determined by dividing total variable cost by the number of units of output.
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This glossary post was last updated: 10th February, 2020 | 318 Views.