Question:
What do you understand by law of variable proportion?
What do you understand by law of variable proportion?
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The law of variable proportion refers to the short-run effect of changing one input while keeping others constant.
Updated On: Nov 5, 2025
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Solution and Explanation
The law of variable proportion states that when one factor of production is increased, keeping others constant, the total output initially increases at an increasing rate, then at a diminishing rate.
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