Questions: The formula for AVC is A. (Δq)/(ΔTVC). B. (q)/(TVC). c. (ΔTVC)/(Δq). D. (TVC)/(q).

The formula for AVC is A. (Δq)/(ΔTVC). B. (q)/(TVC). c. (ΔTVC)/(Δq). D. (TVC)/(q).
Transcript text: The formula for AVC is A. $\frac{\Delta q}{\Delta T V C}$. B. $\frac{q}{T V C}$. c. $\frac{\Delta T V C}{\Delta q}$. D. $\frac{\mathrm{TVC}}{\mathrm{q}}$.
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Solution

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The answer is D: \(\frac{\mathrm{TVC}}{\mathrm{q}}\).

Explanation for each option:

A. \(\frac{\Delta q}{\Delta TVC}\) - This formula represents the change in quantity divided by the change in total variable cost, which is not the definition of average variable cost (AVC).

B. \(\frac{q}{TVC}\) - This formula represents the quantity divided by the total variable cost, which is incorrect for calculating AVC.

C. \(\frac{\Delta TVC}{\Delta q}\) - This formula represents the change in total variable cost divided by the change in quantity, which is the definition of marginal cost, not average variable cost.

D. \(\frac{\mathrm{TVC}}{\mathrm{q}}\) - This formula correctly represents the average variable cost, which is the total variable cost (TVC) divided by the quantity of output (q).

In summary, the correct formula for average variable cost (AVC) is \(\frac{\mathrm{TVC}}{\mathrm{q}}\).

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