Interpretations of Moore's law assert that:

The assertion that computing power doubles every 18 months is a central tenet of Moore's Law, which was formulated by Gordon Moore, co-founder of Intel, in the 1960s. This observation states that the number of transistors on a microchip tends to double approximately every two years, leading to an exponential increase in computing performance and efficiency.

When this principle is applied to various technological advancements, it is often paraphrased to suggest that computing power effectively doubles in a slightly shorter timespan, typically cited as every 18 months in practice. This doubling of computing power can also translate into faster processing capabilities, more complex calculations, and improved performance of software applications, all of which have significant implications for the growth and evolution of technology.

In contrast, while the other choices mention aspects that relate to the effects of technological change, they do not accurately reflect the foundational idea of Moore's Law. For example, the focus on transistor size reduction and data storage costs does not capture the essence of the original statement concerning the doubling of computing power. Therefore, the correct interpretation aligns directly with the principle that computing power doubles approximately every 18 months.